The Euro Area seasonally-adjusted unemployment rate stood at 7.5 percent in July 2019, unchanged from the previous month's 11-year low and in line with market expectations. The number of unemployed continued to decline. Unemployment Rate in the Euro Area averaged 9.65 percent from 1995 until 2019, 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 7.40 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 7.30 in 12 months time. In the long-term, the Euro Area Unemployment Rate is projected to trend around 6.70 percent in 2020, according to our econometric models.

Euro Area Unemployment Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-06-04 09:00 AM Unemployment Rate Apr 7.6% 7.7% 7.7% 7.7%
2019-07-01 09:00 AM Unemployment Rate May 7.5% 7.6% 7.6% 7.6%
2019-07-31 09:00 AM Unemployment Rate Jun 7.5% 7.6% 7.5% 7.5%
2019-08-30 09:00 AM Unemployment Rate Jul 7.5% 7.5% 7.5% 7.5%
2019-09-30 09:00 AM Unemployment Rate Aug 7.5% 7.5%
2019-10-31 10:00 AM Unemployment Rate Sep 7.4%
2019-11-29 10:00 AM Unemployment Rate Oct 7.4%



Eurozone Jobless Rate Holds Steady at 11-Year Low

The Euro Area seasonally-adjusted unemployment rate stood at 7.5 percent in July 2019, unchanged from the previous month's 11-year low and in line with market expectations. The number of unemployed continued to decline.

Compared with June, the number of unemployed in the Euro Area decreased by 16,000 to 12.322 million. Compared with the previous year, it fell by 898,000.

Considering the European Union as a whole, the unemployment rate was unchanged at 6.3 percent in July, the lowest since the start of the EU monthly unemployment series in January 2000. There were 15.613 million people unemployed, an increase of 27,000 from the previous month and a decline of 1.093 million from July 2018.

Among EU Member States, the lowest unemployment rates in July were recorded in Czechia (2.1 percent) and Germany (3.0 percent). The highest unemployment rates were observed in Greece (17.2 percent in May 2019) and Spain (13.9 percent). Compared with a year ago, the largest decreases were registered in Greece (17.2 percent from 19.4 percent between May 2019 and May 2018), Croatia (7.1 percent from 8.4 percent), Cyprus (7.0 percent from 8.3 percent), Slovakia (5.3 percent from 6.5 percent), and Spain (13.9 percent from 15.0 percent).

The youth unemployment rate was 14.3 percent in the EU28 and 15.6 percent in the Euro Area, compared with 15.0 percent and 16.7 percent respectively in July 2018. The lowest rates were observed in Germany (5.6 percent), the Netherlands (6.7 percent) and Czechia (7.0 percent), while the highest were recorded in Greece (39.6 percent in Q1 2019), Spain (32.1 percent) and Italy (28.9 percent).


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/30/2019 9:28:35 AM


News

Eurozone Jobless Rate Falls to 11-Year Low
The Euro Area seasonally-adjusted unemployment rate fell to 7.5 percent in June 2019 from an upwardly revised 7.6 percent in the previous month and in line with market expectations. It was the lowest jobless rate since July 2008 as the number of unemployed continued to decline.
Published on 2019-07-31

Eurozone Jobless Rate Drops to Near 11-Year Low
The Euro Area seasonally-adjusted unemployment rate fell to 7.5 percent in May 2019 from 7.6 percent in the previous month and below market expectations of 7.6 percent. It was the lowest jobless rate since July 2008 as the number of unemployed continued to decline.
Published on 2019-07-01

Eurozone Jobless Rate Drops to 10-1/2-Year Low
The Euro Area seasonally-adjusted unemployment rate fell to 7.6 percent in April 2019 from 7.7 percent in the previous month and below market expectations of 7.7 percent. It was the lowest jobless rate since August 2008 as the number of unemployed continued to decline.
Published on 2019-06-04

Euro Area Jobless Rate Falls to 10-1/2-Year Low
The seasonally adjusted unemployment rate in the Euro Area fell to 7.7 percent in March 2019 from 7.8 percent in the previous month and below market expectations of 7.8 percent. It was the lowest jobless rate since September 2008, as the number of unemployed continued to decline. A year earlier, unemployment rate was higher at 8.5 percent.
Published on 2019-04-30



Euro Area Labour Last Previous Highest Lowest Unit
Unemployment Rate 7.50 7.50 12.10 7.30 percent [+]
Unemployed Persons 12229.00 12247.00 19194.00 11394.00 Thousand [+]
Employed Persons 159.50 158.95 159.50 117.36 Million [+]
Long Term Unemployment Rate 3.50 3.50 6.30 2.70 percent [+]
Youth Unemployment Rate 15.60 15.50 24.80 14.80 percent [+]
Productivity 105.20 105.10 105.30 82.60 Index Points [+]
Labour Costs 110.50 99.60 110.50 83.20 Index Points [+]
Wage Growth 2.70 2.70 3.40 0.80 percent [+]
Population 341.15 340.54 341.15 260.38 Million [+]
Employment Change 0.20 0.40 0.70 -0.70 percent [+]
Part Time Employment 31594.70 31393.20 31594.70 19769.20 Thousand [+]
Labor Force Participation Rate 57.10 57.40 57.40 55.00 percent [+]
Full Time Employment 115273.20 116162.30 118849.00 107485.60 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 September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
7.50 7.50 12.10 7.30 1995 - 2019 percent Monthly
SA




Country Last Previous
South Africa 29.00 Jun/19
Spain 14.02 Jun/19
Turkey 13.00 Jun/19
Brazil 11.80 Jul/19
Argentina 10.60 Jun/19
Italy 9.90 Jul/19
France 8.50 Jun/19
Euro Area 7.50 Jul/19
India 6.00 Dec/18
Canada 5.70 Aug/19
Saudi Arabia 5.60 Jun/19
Australia 5.30 Aug/19
Indonesia 5.01 Mar/19
Russia 4.30 Aug/19
United Kingdom 3.80 Jul/19
Mexico 3.70 Jul/19
United States 3.70 Aug/19
China 3.61 Jun/19
Netherlands 3.50 Aug/19
South Korea 3.10 Aug/19
Germany 3.00 Jul/19
Japan 2.20 Jul/19
Singapore 2.20 Jun/19
Switzerland 2.10 Aug/19


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