Latest reading: April’s data sent positive signals regarding the health of the labor market. The seasonally adjusted unemployment rate fell...
Unemployment in Euro Area
The Euro area's unemployment rate has nearly halved since 2014, reflecting strong labor demand, population ageing over the last decade, and government efforts to better match job seekers' skills to labor market opportunities. However, the unemployment remains higher than the G7 average, and there are huge disparities among members states.
In the year 2024, the unemployment in Euro Area was 6.36%, compared to 11.72% in 2014 and 6.56% in 2023. It averaged 8.47% over the last decade. For more unemployment information, visit our dedicated page.
Euro Area Unemployment Chart
Note: This chart displays Unemployment Rate for Euro Area from 2014 to 2024.
Source: Macrobond.
Euro Area Unemployment Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Unemployment (% of active population, aop) | 8.0 | 7.8 | 6.8 | 6.6 | 6.4 |
| Unemployment (% of active population, eop) | 8.2 | 7.1 | 6.7 | 6.5 | 6.2 |
Unemployment rate stable in March
Latest reading: In March, the seasonally adjusted unemployment rate was unchanged at February’s upwardly revised 6.2%. As for the Eurozone’s largest economies, the unemployment rate rose in Italy and the Netherlands, stabilized in Germany and Spain, and fell in France. Significant disparities in labor market conditions between members persist: Spain was the economy with the highest unemployment rate in March (10.9%), followed by Finland (9.1%). At the other end of the spectrum, Malta (2.8%) and Slovenia (3.2%) had the lowest unemployment rates.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects European unemployment projections for the next ten years from a panel of 45 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable unemployment forecast available for European unemployment.
Download one of our sample reports to visualize what a Consensus Forecast is and see our European unemployment projections.
Want to get access to the full dataset of European unemployment forecasts? Send an email to info@focus-economics.com.
Latest Global Unemployment News
-
Greece: Unemployment rate declines in April -
Australia: Unemployment rate unchanged as expected in April Latest reading: The seasonally adjusted unemployment rate was unchanged at March’s 4.1% in April and in line with market estimates.... -
United States: Job gains beat expectations in April Latest reading: Total non-farm payrolls grew by 177,000 in April, below the downwardly revised 185,000 gain in March but above... -
Euro Area: Unemployment rate stable in March Latest reading: In March, the seasonally adjusted unemployment rate was unchanged at February’s upwardly revised 6.2%. As for the Eurozone’s... -
Spain: Unemployment rate increases in Q1 Latest reading: The unemployment rate rose to 11.4% in Q1 from 10.6% in Q4. Q1’s print surprised market expectations on... -
New Zealand: Unemployment rate rises in Q3 Latest reading: The seasonally-adjusted unemployment rate rose to 4.8% in Q3 2024 from 4.6% in Q2 2024. Over the same... -
Euro Area: Unemployment rate falls in July The seasonally adjusted unemployment rate edged down to 6.4% in July from June’s 6.5%. As for the Eurozone’s largest economies,...