The seasonally adjusted unemployment rate in the Euro Area fell to 7.7 percent in March 2019 from 7.8 percent in the previous month and below market expectations of 7.8 percent. It was the lowest jobless rate since September 2008, as the number of unemployed continued to decline. A year earlier, unemployment rate was higher at 8.5 percent. Unemployment Rate in the Euro Area averaged 9.67 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.

Unemployment Rate in Euro Area is expected to be 7.50 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 6.70 percent in 2020, according to our econometric models.

Euro Area Unemployment Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-01-31 10:00 AM Unemployment Rate 7.9% 7.9% 7.9% 7.9%
2019-03-01 10:00 AM Unemployment Rate 7.8% 7.8% 7.9% 7.9%
2019-04-01 09:00 AM Unemployment Rate 7.8% 7.8% 7.8% 7.8%
2019-04-30 09:00 AM Unemployment Rate 7.7% 7.8% 7.8% 7.7%
2019-06-04 09:00 AM Unemployment Rate 7.7% 7.7%
2019-07-01 09:00 AM Unemployment Rate 7.6%
2019-07-31 09:00 AM Unemployment Rate 7.5%



Euro Area Jobless Rate Falls to 10-1/2-Year Low

The seasonally adjusted unemployment rate in the Euro Area fell to 7.7 percent in March 2019 from 7.8 percent in the previous month and below market expectations of 7.8 percent. It was the lowest jobless rate since September 2008, as the number of unemployed continued to decline. A year earlier, unemployment rate was higher at 8.5 percent.

Compared with February, the number of unemployed in the Euro Area decreased by 174,000 to 12,630 million. Compared with the previous year, it dropped by 1.172 million.

Considering the European Union as a whole, the jobless rate declined to 6.4 percent from 6.5 percent in February, and lower than a 7.0 percent a year earlier. It was the lowest rate recorded since the start of the EU monthly unemployment series in January 2000. The number of unemployed decreased by 172,000 from February to 15.907 million and went down by 1.430 million from February of 2018.

Among the Member States, the lowest unemployment rates in March 2019 were registered in Czech Republic (1.9 percent), Germany (3.2 percent) and the Netherlands (3.3 percent) and the highest rates were recorded in Greece (18.5 percent in January), Spain (14.0 percent) and Italy (10.2 percent). Compared with a year ago, the unemployment rate dropped in all Member States except Denmark (between February 2018 and February 2019) and Sweden where it remained stable. The largest declines were observed in Greece (from 20.6 percent to 18.5 percent between January 2018 and January 2019), Cyprus (from 9.0 percent to 7.0 percent), and Estonia (from 6.7 percent to 4.6 percent).

The youth unemployment rate was 14.5 percent in the EU28 and 16.0 percent in the Euro Area, down from 15.5 percent and 17.4 percent respectively in March 2018. 3.282 million young persons (under 25) were unemployed in the EU28, of whom 2.325 million were in the Euro Area. Compared with March 2018, youth unemployment went down by 189,000 in the EU28 and by 150,000 in the Euro Area. The lowest rates were registered in Germany (5.6 percent), Czech Republic (6.3 percent) and the Netherlands (6.4 percent), while the highest were recorded in Greece (39.7 percent in January 2019), Spain (33.7 percent) and Italy (30.2 percent).


Eurostat | Stefanie Moya | stefanie.moya@tradingeconomics.com
4/30/2019 9:18:03 AM



Euro Area Labour Last Previous Highest Lowest Unit
Unemployment Rate 7.70 7.80 12.10 7.30 percent [+]
Unemployed Persons 12545.00 12642.00 19197.00 11391.00 Thousand [+]
Employed Persons 158.90 158.29 158.90 117.36 Million [+]
Long Term Unemployment Rate 3.50 3.90 6.30 2.70 percent [+]
Youth Unemployment Rate 16.00 16.20 24.70 14.80 percent [+]
Productivity 105.10 105.20 105.30 82.60 Index Points [+]
Labour Costs 116.60 106.40 116.60 85.10 Index Points [+]
Wage Growth 2.30 2.30 3.40 0.80 percent [+]
Population 340.72 339.88 340.72 260.38 Million [+]
Employment Change 0.30 0.30 0.80 -0.70 percent [+]
Part Time Employment 30964.20 31590.00 31590.00 19769.20 Thousand [+]
Labor Force Participation Rate 57.30 57.20 57.30 55.00 percent [+]
Full Time Employment 116891.60 115128.60 118849.00 107485.60 Thousand [+]
Retirement Age Men 64.36 64.27 64.36 62.24 [+]
Retirement Age Women 63.96 63.86 63.96 61.66 [+]


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. 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 - actual data, historical chart and calendar of releases - was last updated on May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
7.70 7.80 12.10 7.30 1995 - 2019 percent Monthly
SA




Country Last Previous
South Africa 27.60 Mar/19
Spain 14.70 Mar/19
Turkey 14.70 Feb/19
Brazil 12.70 Mar/19
Italy 10.20 Mar/19
Argentina 9.10 Dec/18
France 8.70 Mar/19
Euro Area 7.70 Mar/19
Saudi Arabia 6.00 Dec/18
Canada 5.70 Apr/19
Australia 5.20 Apr/19
Indonesia 5.01 Mar/19
Russia 4.70 Mar/19
South Korea 4.10 Apr/19
United Kingdom 3.80 Mar/19
China 3.67 Mar/19
United States 3.60 Apr/19
India 3.53 Dec/18
Netherlands 3.30 Apr/19
Germany 3.20 Mar/19
Mexico 3.20 Mar/19
Japan 2.50 Mar/19
Switzerland 2.40 Apr/19
Singapore 2.20 Mar/19


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