The unemployment rate in the Euro Area edged lower to a fresh record low of 6.6% in May of 2022 from 6.7% in April, compared to market forecasts of 6.8%. 11.004 million people were unemployed of whom 1.988 million were young persons under 25 years old. The unemployment rate for women decreased to 7.1% from 7.2% and for men it fell to 6.2% from 6.3%. The unemployment has been falling since early 2021 as the economies rebound from the pandemic-hit but rising inflation and interest rates are expected to slow the economic recovery. source: EUROSTAT
Unemployment Rate in the Euro Area averaged 9.46 percent from 1995 until 2022, reaching an all time high of 12.10 percent in January of 2013 and a record low of 6.60 percent in May 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 July 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 6.70 percent in 2023 and 6.50 percent in 2024, according to our econometric models.