According to Eurostat, the statistical office of the European Union, the euro area seasonally adjusted unemployment rate was 11.4% in December 2014, down from 11.5% in November 2014. This was the lowest rate recorded in the euro area since August 2012.

The EU28 unemployment rate was 9.9% in December 2014, down from 10% in November 2014. This was the first time the rate for the EU28 had fallen below 10% since October 2011.

Among the member states, the lowest unemployment rates in December 2014 were recorded in Germany (4.8%) and Austria (4.9%), and the highest in Greece (25.8% in October 2014) and Spain (23.7%).

Compared with a year ago, the unemployment rate in December 2014 fell in 24 member states, remained stable in Belgium and increased in Finland (8.3% to 8.9%), Italy (12.6% to 12.9%) and France (10.2% to 10.3%).

The largest decreases were registered in Estonia (9.0% to 6.6% between November 2013 and November 2014), Bulgaria (12.8% to 10.8%), Greece (27.8% to 25.8% between October 2013 and October 2014), Hungary (9.3% to 7.3% between November 2013 and November 2014) and Poland (10% to 8.0%).

Source: Cyprus Mail