Unemployment in the euro area at its lowest level in nine years

The unemployment rate in the euro area fell to 8.4% in May from 8.5% in April, according to the European Statistical Office Eurostat on Monday.
The lowest unemployment rate in the euro area since December 2008, at 8.3%, before rising to 8.7% in January 2009.

This level is better than the analysts surveyed by FACTSET The number of unemployed was 13.6 million men and women in May, of which 2.3 million young people.

The unemployment rate in the euro area has been steadily dropping since its fall in September. (September 2016), below the symbolic threshold of 10%, but remains much higher than the pre-financial crisis of 2007 and 2008 where it was estimated at 7.5%.

At the height of the crisis In the euro area, unemployment reached a record 12.1% in the second quarter of 2013.

Of the 19 single currency countries, Germany recorded the highest low unemployment rate of 3.4% in May.

In Greece, 20.1% in March, the latest available rate, and Spain at 15.8%.

Unemployment in the 28 countries of the EU was estimated at 7% in May, unchanged from April 2018.