The euro area seasonally-adjusted unemployment rate was at a record low of 6.4% in June 2023, stable compared with May 2023 and slightly below market forecasts of 6.5%. A year earlier, the jobless rate was higher at 6.7%. The unemployed decreased by 62 thousand from a month earlier to 10.814 million. Meanwhile, the youth unemployment rate, measuring job-seekers under 25 years old, dropped to an all-time low of 13.8% in June 2023, down from 14% in the previous month. Amongst the largest Euro Area economies, the lowest jobless rate was recorded in Germany (3%), while the highest rates were registered in Spain (11.7%), Italy (7.4%) and France (7.1%). source: EUROSTAT
Unemployment Rate in Euro Area averaged 9.40 percent from 1995 until 2023, reaching an all time high of 12.20 percent in January of 2013 and a record low of 6.40 percent in April of 2023. 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 August of 2023.
Unemployment Rate in Euro Area is expected to be 6.60 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 7.30 percent in 2024 and 7.00 percent in 2025, according to our econometric models.