Malta with fifth lowest EU unemployment rate in June

Malta had the fifth lowest unemployment rate in June, data published by Eurostat, the EU's statistical agency, shows.

The unemployment rate in Malta for the month of June stood at 3.9%, according to the figures.

The euro area (EA19) seasonally-adjusted unemployment rate was 8.3% in June 2018, stable compared with May 2018 and down from 9.0% in June 2017. This remains the lowest rate recorded in the euro area since December 2008.

The EU28 unemployment rate was 6.9% in June2018, also stable compared with May2018 and down from 7.6% in June 2017. This is the lowest rate recorded in the EU28 since May 2008.

Among the Member States, the lowest unemployment rates in June 2018were recorded in the Czech Republic (2.4%) and Germany (3.4%). The highest unemployment rates were observed in Greece (20.2% in April2018) and Spain (15.2%).

Compared with a year ago, the unemployment rate fell in all Member States. The largest decreases were registered in Cyprus (from 11.0% to 8.2%), Portugal (from 9.1% to 6.7%), Croatia (from 11.1% to 9.2%), Estonia (from 6.8% to 4.9% between May 2017 and May 2018) and Spain (from 17.0% to 15.2%).

In June 2018, the unemployment rate in the United States was 4.0%, up from 3.8% in May 2018and down from 4.3% in June2017.

Eurostat estimates that 17.105 million men and women in the EU28, of whom 13.570 million in the euro area, were unemployed in June2018. Compared with May 2018, the number of persons unemployed increased by 4,000 in the EU28 and by14 000 in the euro area.

Compared with June2017, unemployment fell by 1.657million in the EU28 and by 1.146 million in the euro area.

 

Euro area annual inflation up to 2.1%

Eurostat also said yesterday that Euro area annual inflation is expected to be 2.1% in July 2018, up from 2.0% in June, according to a flash estimate.

Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in July (9.4%, compared with 8.0% in June), followed by food, alcohol & tobacco (2.5%, compared with 2.7% in June), services (1.4%, compared with 1.3% in June) and non-energy industrial goods (0.5%, compared with 0.4% in June).

 

Euro area GDP up by 0.3%

The agency also said that seasonally adjusted GDP rose by 0.3% in the euro area (EA19) and by 0.4% in the EU28 during the second quarter of 2018, compared with the previous quarter.

 In the first quarter of 2018, GDP had grown by 0.4% in both the euro area and the EU28. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 2.1% in the euro area and by 2.2% in the EU28 in the second quarter of 2018, after +2.5% and +2.4% respectively in the previous quarter.

from The Malta Independent https://ift.tt/2LBLGhT
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