EU UNEMPLOYMENT UP TO 9.1 PERCENT; EURO ZONE RATE UP TO

UNCLAS SECTION 01 OF 02 BRUSSLS 001332 SIPDIS DOL FOR BLS AND ILAB TQEASURY FOR IMI STATE FOR DRL/IL E.O. 12958Q N/A TAGS: ELAB EUN SUBJECT: EU UNEMPLOYMENT UP TO 9.1 PERCENT; EURO ZONE RATE UP TO 9.6 PERCENT BRUSSELS 10011332 001.5 OF 002 ¶1. SUMMARY. The latest EU unemployment data released by the EU Commission's Statistical Office (EUROSTAT) on October 1 showed a further limited deterioration of the situation on the EU labor markets. The aggregate unemployment rate for the EU-27 increased to 9.1 percent in August 2009, up from 9.0 in July. Unemployment in the euro zone (the 16 EU countries currently participating in the euro) increased to 9.6 percent in August 2009, also up by 0.1 percentage point over the previous month. END SUMMARY. ¶2. With seasonal adjustment and compensation for differences in national statistical methods, the unemployment rate for the EU-27 stood at 9.1 percent in August 2009, up from 9.0 percent in July 2009 and from 7.0 percent in August 2008. The unemployment rate for the euro zone stood at 9.6 percent in August 2009, up from 9.5 percent in July 2009 and from 7.6 percent in August 2008 (comparison based on EU-16; euro zone membership effective in August 2009). ¶3. The lowest monthly rates among those compiled by EUROSTAT from the EU-27 for August 2009 were recorded in the Netherlands (3.5 percent) and Austria (4.7 percent). The highest rates were recorded in Spain (18.9 percent) and Latvia (18.3 percent). ¶4. EUROSTAT data showed all countries among the EU-27 recording an increase in their unemployment rate over a year, some showing quite a sharp rise. The lowest increases in August-to-August comparison took place in Belgium (from 7.5 percent to 7.9 percent) and Germany (from 7.2 percent to 7.7 percent). The sharpest yearly increases occurred in Latvia (from 7.4 percent to 18.3 percent in August-to-August comparison) and Estonia (from 4.1 percent to 13.3 percent between the second quarters of 2008 and 2009). ¶5. Based on EUROSTAT estimates, male unemployment reached 9.1 percent in August 2009 for the EU-27 and 9.4 percent for the euro zone, up 2.5 percentage point and up 2.4 percentage point for both the EU-27 and the euro zone areas when compared to August ¶2008. The female unemployment rate for August 2009 reached 9.0 percent for the EU-27 and 9.8 percent for the euro zone, up 1.5 percentage point for both areas over the twelve-month period. ¶6. Unemployment rates among young people under 25 for August 2009 ranged from 6.3 percent in the Netherlands to 39.2 percent in Spain. The August 2009 rate for this age group was estimated at 19.8 percent for the EU-27 and at 19.7 percent for the euro zone, compared to 15.4 percent for both areas for August 2008 (plus plus 4.3 percentage point and plus 4.1 percentage point respectively). ¶7. EUROSTAT estimated that 21.872 million were unemployed in the EU-27 in August 2009, of which 15.165 million in the euro zone. In absolute numbers, the number of unemployed increased by 5,008,000 for the EU-27 and by 3,224,000 for the euro zone over the twelve-month period. ¶8. Following is the breakdown of unemployment rates in ascending order for the individual EU member states: (Seasonally-adjusted) (August 2009 rates unless otherwise indicated) Netherlands 3.5 Austria 4.7 Cyprus 5.6 Denmark 5.9 Slovenia 5.9 Romania 6.4 (second quarter 2009) Luxembourg 6.6 Czech Republic 6.9 Bulgaria 7.1 Malta 7.2 Italy 7.4 (second quarter 2009) Germany 7.7 UK 7.8 ((June 2009) Belgium 7.9 Poland 8.0 Finland 8.7 Portugal 9.1 Greece 9.2 (second quarter 2009) Sweden 9.4 Hungary 9.6 France 9.9 Slovakia 11.6 Ireland 12.5 Estonia 13.3 (second quarter 2009) Lithuania 13.7 *********************** * Missing Section 002 * ***********************