The unemployment rate in the Euro Area edged down to a record low of 6.6 percent in July of 2022 from an upwardly revised 6.7 percent in the previous month, in line with market expectations. A year earlier, the jobless rate was much higher at 7.7 percent. There were 10.983 million unemployed persons, down by 77 thousand from June. Youth unemployment also declined by 35 thousand to 2.208 million, pushing the rate down to 14.2 percent from 14.4 percent in June. Among the biggest economies in the Eurozone, declines in the jobless rate were seen in France (7.5 percent vs 7.6 percent) and Italy (7.9 percent vs 8 percent) while the jobless rate was steady at 2.9 percent in Germany. source: EUROSTAT
Unemployment Rate in the Euro Area averaged 9.46 percent from 1995 until 2022, reaching an all time high of 12.20 percent in January of 2013 and a record low of 6.60 percent in July 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 September 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 7.50 percent in 2023 and 7.30 percent in 2024, according to our econometric models.