The unemployment rate in the Euro Area fell to a record low of 6.8% in March of 2022 from an upwardly revised 6.9% in February and from 8.2% in March 2021, slightly above market forecasts of 6.7%. There were 11.274 million unemployed persons, down by 76K from February. Youth unemployment also declined by 17K to 2.098 million, pushing the rate down to 13.9% from 14% in February. Among the biggest economies in the Eurozone, declines in the jobless rate were seen in Germany (2.9% vs 3%), Italy (8.3% vs 8.5%) while the jobless rate was steady at 7.4% in France. source: EUROSTAT
Unemployment Rate in the Euro Area averaged 9.48 percent from 1995 until 2022, reaching an all time high of 12.10 percent in January of 2013 and a record low of 6.80 percent in March of 2022. This page provides the latest reported value for - Euro Area Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Euro Area Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2022.
Unemployment Rate in Euro Area is expected to be 6.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Unemployment Rate is projected to trend around 6.70 percent in 2023 and 6.50 percent in 2024, according to our econometric models.