Identifier
Created
Classification
Origin
08BRUSSELS825
2008-06-02 09:24:00
UNCLASSIFIED
USEU Brussels
Cable title:  

EU UNEMPLOYMENT STABLED AT 6.7 PERCENT; EURO ZONE RATE

Tags:  ELAB EUN 
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RR RUEHAG RUEHAST RUEHDA RUEHDF RUEHFL RUEHIK RUEHKW RUEHLA RUEHLN
RUEHLZ RUEHPOD RUEHROV RUEHSR RUEHVK RUEHYG
DE RUEHBS #0825/01 1540924
ZNR UUUUU ZZH
R 020924Z JUN 08
FM USEU BRUSSELS
TO RUEHC/SECSTATE WASHDC
RUEHC/DOL WASHDC
RUEATRS/DEPT OF TREASURY WASHDC
INFO RUEHZL/EUROPEAN POLITICAL COLLECTIVE
UNCLAS SECTION 01 OF 02 BRUSSELS 000825 

SIPDIS

DOL FOR BLS AND ILAB
TREASURY FOR IMI
STATE FOR DRL/IL

E.O. 12958: N/A
TAGS: ELAB EUN
SUBJECT: EU UNEMPLOYMENT STABLED AT 6.7 PERCENT; EURO ZONE RATE
ALSO STABLE AT 7.1 PERCENT


UNCLAS SECTION 01 OF 02 BRUSSELS 000825

SIPDIS

DOL FOR BLS AND ILAB
TREASURY FOR IMI
STATE FOR DRL/IL

E.O. 12958: N/A
TAGS: ELAB EUN
SUBJECT: EU UNEMPLOYMENT STABLED AT 6.7 PERCENT; EURO ZONE RATE
ALSO STABLE AT 7.1 PERCENT



1. SUMMARY. The aggregate unemployment rate for
the EU-27 was unchanged at 6.7 percent in April 2008, according to
data published by the EU Commission's Statistical Office (EUROSTAT)
on May 30. Unemployment in the euro zone (the fifteen EU countries
participating in the euro) was also stable at 7.1 percent. END
SUMMARY.


2. With seasonal adjustment and compensation for differences in
national statistical methods, the
unemployment rate for the EU-27 stood at 6.7 percent
in April 2008, unchanged from the previous month and down from 7.2
percent in April 2007. The unemployment rate for the euro zone
stood at 7.1 percent in April 2008, unchanged from March 2008 and
down from 7.5 percent in April 2007 (comparison based on the EU-15;
euro zone membership effective since January 1, 2008).


3. The lowest monthly rates among those compiled by EUROSTAT from
the EU-27 for April 2008 were recorded in Denmark (2.7 percent) and
the Netherlands (2.8 percent); the highest rates were recorded in
Slovakia (10.0 percent) and Spain (9.6 percent).


4. EUROSTAT noted that twenty-four countries among
the EU-27 recorded a decrease in their unemployment
rate over a year and three an increase. The most significant
decreases (April-to-April comparison) occurred in Poland (from 10.1
percent to 7.7 percent),Bulgaria (from 7.3 percent to 5.5 percent)
and Slovakia (from 11.4 percent to 10.0 percent). The highest
increases were recorded in Spain (from 8.1 percent to 9.6 percent)
and Ireland (from 4.6 percent to 5.7 percent).


5. Based on EUROSTAT estimates, male unemployment
reached 6.2 percent in April 2008 for the EU-27 and 6.4 percent for
the euro zone, down by 0.4 percentage point and 0.2 percentage
point
respectively when compared to April 2007. The female rate over the
same period decreased to 7.3 percent for the EU-27 and to 8.0
percent for the euro zone, minus 0.7 percentage point and minus 0.6
percent respectively over the twelve-month period.


6. Unemployment rates among young people under 25
ranged from 5.5 percent in Denmark and 5.6 percent in the
Netherlands to 22.9 percent in Greece. The rate for this age group
in April 2008 was estimated at 14.8 percent for the EU-27 and 15.0
percent for the euro zone, compared to 15.5 percent (minus 0.7
percentage point) and 14.8 percent (plus 0.2 percentage point)
respectively in April 2007.


7. EUROSTAT estimated that 16.0 million were
unemployed in the EU-27 in April 2008 (11.0 million in the euro
zone). In absolute numbers, the number of unemployed decreased by
1.1 million (EU-27) and by 0.4 million (euro zone) respectively over
the twelve-month period.


8. Following is the breakdown of unemployment rates in ascending
order for the individual EU member states:

(Seasonally-adjusted)
(April 2008 unless otherwise indicated)

Denmark 2.7
Netherlands 2.8
Cyprus 3.6
Slovenia 4.0
Estonia 4.1
Austria 4.2
Czech Republic 4.4
Lithuania 4.4
Luxembourg 4.7
UK 5.0 (February 2008)
Latvia 5.1
Sweden 5.4
Bulgaria 5.5
Ireland 5.7
Malta 5.7
Finland 6.0
Italy 6.1 (fourth quarter 2007)
Romania 6.2 (fourth quarter 2007)
Belgium 6.9
Germany 7.4
Portugal 7.4
Hungary 7.6
Poland 7.7
France 7.8
Greece 7.9 (fourth quarter 2007)
Spain 9.6
Slovakia 10.0

BRUSSELS 00000825 002 OF 002


Euro zone 7.1
EU-27 6.7


9. The monthly rates and numbers of unemployed are
estimated and based on data from the EU labor force
survey. The estimated rates may differ from
national unemployment rates due to differences in
methods and definitions of unemployment. Unemployed
people according to ILO criteria are those aged 15
and over who:

-- Are without work;

-- Are available to start work within the next two
weeks; and

-- Have actively sought employment at some time
during the previous four weeks.

MURRAY