The unemployment rate in the Euro Area stood at 7.5 percent in November 2019, its lowest level since July 2008 and in line with market expectations, as the number of unemployed decreased by 10,000 from the previous month to 12.315 million. Among the bloc's largest economies, the lowest unemployment rate was recorded in Germany (3.1 percent), while higher rates were observed in France (8.4 percent), Italy (9.7 percent) and Spain (14.1 percent). The youth unemployment rate, which measures job seekers aged 15 to 24, dropped to 15.6 percent from 16.3 percent in the same period a year earlier. Considering the European Union as a whole, the jobless rate was unchanged at 6.3 percent, the lowest since comparable series began in January 2000. Unemployment Rate in the Euro Area averaged 9.62 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. source: Eurostat

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 7.20 percent in 2020, according to our econometric models.

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Euro Area Unemployment Rate

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


Calendar GMT Actual Previous Consensus TEForecast
2019-09-30 09:00 AM Aug 7.4% 7.5% 7.5% 7.5%
2019-10-31 10:00 AM Sep 7.5% 7.5% 7.4% 7.4%
2019-11-29 10:00 AM Oct 7.5% 7.6% 7.5% 7.5%
2020-01-09 10:00 AM Nov 7.5% 7.5% 7.5% 7.5%
2020-01-30 10:00 AM Dec 7.5% 7.5%


News Stream
2019-11-29
Eurozone Jobless Rate Falls to Over 11-Year Low
The Euro Area seasonally-adjusted unemployment rate fell to 7.5 percent in October 2019 from an upwardly revised 7.6 percent in the previous month and matching market expectations. It was the lowest rate recorded in the euro area since July 2018, as the number of unemployed declined.

2019-10-31
Euro Area Jobless Rate at Over 11-Year Low of 7.5%
The Euro Area seasonally-adjusted unemployment rate stood at 7.5 percent in September 2019, unchanged from the previous month and slightly above market expectations of 7.4 percent. Still, this is the lowest rate recorded in the euro area since July 2008.

2019-09-30
Eurozone Jobless Rate Falls to Over 11-Year Low
The Euro Area seasonally-adjusted unemployment rate dropped to 7.4 percent in August 2019, the lowest since May 2008 and slightly below market expectations of 7.5 percent, as the number of unemployed continued to decline.

2019-08-30
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.

2019-07-31
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.

2019-07-01
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.


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.

Euro Area Labour Last Previous Highest Lowest Unit
Unemployment Rate 7.50 7.50 12.10 7.30 percent [+]
Employed Persons 160.13 160.01 160.13 117.36 Million [+]
Unemployed Persons 12219.00 12230.00 19203.00 11393.00 Thousand [+]
Long Term Unemployment Rate 3.30 3.50 6.30 2.70 percent [+]
Youth Unemployment Rate 15.60 15.60 24.80 14.80 percent [+]
Labour Costs 103.50 110.90 110.90 83.40 points [+]
Productivity 102.10 105.20 105.30 82.60 points [+]
Wages 1868.00 1859.00 1868.00 1177.00 EUR/Month [+]
Wage Growth 2.60 2.80 3.40 0.80 percent [+]
Population 341.15 340.54 341.15 260.38 Million [+]
Employment Change 0.10 0.20 0.70 -0.80 percent [+]
Full Time Employment 116318.80 115278.50 118849.00 107485.60 Thousand [+]
Labor Force Participation Rate 57.30 57.10 57.40 55.00 percent [+]
Part Time Employment 31875.10 31595.00 31875.10 19769.20 Thousand [+]
Retirement Age Men 64.36 64.27 64.36 62.24 [+]
Retirement Age Women 63.96 63.86 63.96 61.66 [+]