The unemployment rate in the Euro Area was steady at 8.1 percent in October of 2018, the same as in each of the previous three months but higher than market expectations of 8 percent. It remained the lowest jobless rate since November of 2008. Unemployment Rate in the Euro Area averaged 9.71 percent from 1995 until 2018, reaching an all time high of 12.10 percent in February of 2013 and a record low of 7.30 percent in October of 2007.

Unemployment Rate in Euro Area is expected to be 7.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Euro Area to stand at 7.40 in 12 months time. In the long-term, the Euro Area Unemployment Rate is projected to trend around 6.80 percent in 2020, according to our econometric models.

Euro Area Unemployment Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-08-31 09:00 AM Unemployment Rate 8.2% 8.2% 8.2% 8.3%
2018-10-01 09:00 AM Unemployment Rate 8.1% 8.2% 8.1% 8.2%
2018-10-31 10:00 AM Unemployment Rate 8.1% 8.1% 8.1% 8.1%
2018-11-30 10:00 AM Unemployment Rate 8.1% 8.1% 8% 8.1%
2019-01-09 10:00 AM Unemployment Rate 8.1%
2019-01-31 10:00 AM Unemployment Rate 7.9%
2019-03-01 10:00 AM Unemployment Rate



Eurozone Jobless Rate Above Forecasts



The unemployment rate in the Euro Area was steady at 8.1 percent in October of 2018, the same as in each of the previous three months but higher than market expectations of 8 percent. It remained the lowest jobless rate since November of 2008.

Compared with September, the number of unemployed in the Euro Area rose by 12,000 to 13.172 million. Compared with the previous year, it declined by 1.121 million.

Considering the European Union as a whole, the unemployment rate was 6.7 percent in October, stable compared with September and down from 7.4 percent in October of 2017. This remains the lowest rate for the EU since the series began in January of 2000. There were 16.626 million unemployed people, down by 4,000 from the previous month and by 1.523 million from the previous year. 

Among the Member States, the lowest unemployment rates in October 2018 were recorded in Czech Republic (2.2 percent) and Germany (3.3 percent). The highest were observed in Greece (18.9 percent in August 2018) and Spain (14.8 percent). In France, the jobless rate was 8.9 percent and in Italy 10.6 percent.

In October 2018, 3.468 million young persons (under 25) were unemployed in the EU28, of whom 2.503 million were in the Euro Area. Compared with October 2017, youth unemploym percent in the Euro Area, compared with 16.3 percent and 18.1 percent respectively in October 2017. In October 2018, the lowest rates were observed in Czech Republic (5.2 percent), Germany (6.2 percent) and the Netherlands (7.2 percent), while the highest were recorded in Greece (36.8 percent in August 2018), Spain (34.9 percent) and Italy (32.5 percent).


Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
11/30/2018 10:19:24 AM



Euro Area Labour Last Previous Highest Lowest Unit
Unemployment Rate 8.10 8.10 12.10 7.30 percent [+]
Unemployed Persons 13080.00 13063.00 19193.00 11403.00 Thousand [+]
Employed Persons 158.29 157.97 158.29 117.36 Million [+]
Long Term Unemployment Rate 3.90 4.10 6.30 2.70 percent [+]
Youth Unemployment Rate 17.30 17.10 24.70 14.80 percent [+]
Productivity 105.30 105.20 105.30 82.60 Index Points [+]
Labour Costs 106.40 113.90 114.10 85.10 Index Points [+]
Wage Growth 2.40 2.10 3.40 0.80 percent [+]
Population 340.72 339.88 340.72 260.38 Million [+]
Employment Change 0.20 0.40 0.80 -0.70 percent [+]
Part Time Employment 31590.10 31245.90 31590.10 19769.20 Thousand [+]
Labor Force Participation Rate 57.20 57.00 57.30 55.00 percent [+]
Full Time Employment 115128.40 113849.60 118899.50 107478.10 Thousand [+]
Retirement Age Men 64.36 64.27 64.36 62.24 [+]
Retirement Age Women 63.96 63.86 63.96 61.66 [+]


Euro Area Unemployment Rate

In Euro Area, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. 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 - actual data, historical chart and calendar of releases - was last updated on December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
8.10 8.10 12.10 7.30 1995 - 2018 percent Monthly
SA




Country Last Previous
South Africa 27.50 Sep/18
Spain 14.55 Sep/18
Brazil 11.70 Oct/18
Turkey 11.40 Sep/18
Italy 10.60 Oct/18
France 9.10 Sep/18
Argentina 9.00 Sep/18
Euro Area 8.10 Oct/18
Saudi Arabia 6.00 Jun/18
Canada 5.60 Nov/18
Indonesia 5.34 Sep/18
Australia 5.00 Oct/18
Russia 4.70 Oct/18
United Kingdom 4.10 Oct/18
China 3.82 Sep/18
South Korea 3.80 Nov/18
Netherlands 3.70 Oct/18
United States 3.70 Nov/18
India 3.52 Dec/17
Germany 3.30 Oct/18
Mexico 3.20 Oct/18
Switzerland 2.50 Nov/18
Japan 2.40 Oct/18
Singapore 2.10 Sep/18


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