Euro Area Jobless Rate Slightly Above Forecasts

The Euro Area seasonally adjusted unemployment rate eased to 6.2% in March 2026 from a revised 6.3% in February, in line with market expectations. The number of unemployed fell by 63,000 from a month earlier to 10.984 million. Meanwhile, youth unemployment remained elevated, with the youth jobless rate standing at 14.9% in the euro area, unchanged from the previous month, and 2.354 million young people under 25 unemployed. Among the major economies in the bloc, Spain (10.3%), France (7.7%), and Italy (5.2%) recorded the highest rates, whereas Germany (4.0%) and the Netherlands (4.0%) reported the lowest. A year ago, the jobless rate was slightly higher at 6.3%. In the broader European Union, the unemployment rate stood at 6.0% in March.

The Euro Area seasonally adjusted unemployment rate edged up to 6.2% in February 2026 from the all-time low of 6.1% in January, against market expectations that it would stay at 6.1%. The number of unemployed rose by 93,000 from the prior month to 10.919 million. Meanwhile, the youth unemployment rate, reflecting those under 25 seeking employment, was at 14.9% in February, unchanged from the prior month. Among the major economies in the bloc, Spain (9.8%), France (7.8%), and Italy (5.3%) recorded the highest rates, whereas Germany (4%) and the Netherlands (4.1%) reported the lowest. A year ago, the jobless rate was slightly higher at 6.3%. In the broader European Union, the jobless rate stood at 5.9% for the third consecutive month.

The Euro Area seasonally adjusted unemployment rate edged down to an all-time low of 6.1% in January 2026 from 6.2% in the prior month, while analysts had expected it at 6.2%. The number of unemployed dropped by 184,000 from the prior month to 10.770 million. Meanwhile, the youth unemployment rate, reflecting those under 25 seeking employment, fell to 14.8% in January from 15% previously. Among the bloc’s largest economies, Germany (4%) and the Netherlands (4%) recorded the lowest jobless rates, while Spain (9.8%), France (7.7%), and Italy (5.1%) saw the highest. A year ago, the jobless rate was slightly higher at 6.3%. In the broader European Union, the jobless rate eased to 5.8% from 5.9% in December.