Eurozone Employment Stalls

The number of employed persons in the Euro Area was broadly unchanged from the previous quarter at 176.547 million in the third quarter of 2026, compared to the 0.1% increase in the earlier period, according to a preliminary estimate. If confirmed, the Euro Area would halt 21 consecutive quarters of employment growth, as high energy prices and sluggish productivity led economic headwinds in the period.

The number of employed persons in the Euro Area grew by 0.1% from the previous quarter to 176.448 million in the second quarter of 2026, the same pace as the first quarter, and consistent with market expectations and the flash estimate. It was the bloc's 21st consecutive quarter of employment growth, extending the slow but consistent trend of increasing jobs in the European labor market, even though high energy prices and sluggish productivity led economic headwinds in the period. Job growth remained sharp in Spain (0.5% vs 0.3% in Q1) while net employment for a third period in France. Meanwhile, employment fell for a fifth straight quarter in Germany (-0.1% vs -0.1%) and slowed in Italy (0.5% vs 0.3%), despite remaining robust. From the previous year, employment growth in the Eurozone was unchanged at 0.5%.

The number of employed persons in the Euro Area grew by 0.1% from the previous quarter to 176.577 million in the second quarter of 2026, the same pace as the first quarter, and aligned with market expectations, according to a first estimate. It was the bloc's 21st consecutive quarter of employment growth, extending the slow but consistent trend of increasing jobs in the European labor market, even though high energy prices and sluggish productivity led economic headwinds in the period. Job growth remained sharp in Spain (0.5% vs 0.3% in Q1) while net employment for a third period in France. Meanwhile, employment fell for a fifth straight quarter in Germany (-0.1% vs -0.1%). From the previous year, employment growth in the Eurozone was unchanged at 0.5%.