Europe Unemployment Dips; Lowest Rates Recorded In Austria, Germany And Luxembourg; Highest In Greece And Spain

Euro zone — The euro sculpture is partially reflected in a puddle on a cobblestone pavement in front of the headquarters of the European Central Bank in Frankfurt, Jan. 21, 2012. Reuters/Kai Pfaffenbach

Unemployment in the 18-nation euro area and the 28-member European Union, or EU, fell in the month of February as compared to the previous month as well as in comparison to the same period in 2013, data from Eurostat showed Tuesday.

The seasonally adjusted unemployment rate in the euro area was recorded at 11.9 percent in February -- a rate that has stayed stable since October. In February 2013, the rate was 12 percent. In the EU, the unemployment rate was recorded at 10.6 percent in February, down from 10.7 percent in January and 10.9 percent in February 2013.

Eurostat estimates that 25.92 million men and women in the EU -- of whom 18.965 million were in the euro area -- were unemployed in February. Compared to the previous month, the number of persons unemployed fell by 65,000 in the EU and by 35,000 in the euro area. And, compared with February 2013, unemployment decreased by 619,000 in the EU, and by 166,000 in the euro area.

The lowest unemployment rates, among member states, were recorded in Austria (4.8 percent), Germany (5.1 percent) and Luxembourg (6.1 percent), while the highest unemployment rates were seen in Greece (27.5 percent in December 2013) and Spain (25.6 percent), according to Eurostat.

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