The Euro Area seasonally-adjusted unemployment rate increased to 8.1 percent in August 2020 from an upwardly revised 8 percent in the previous month and matching market expectations. It was the highest jobless rate since July 2018, as the coronavirus pandemic hit the labour market. The number of unemployed persons rose by 251 thousand to 13.188 million, despite temporary government job-support programs and the relaxation of some containment measures. Among the bloc's largest economies, the highest jobless rates were recorded in Spain (16.2 percent), Italy (9.7 percent), and France (7.5 percent) while the lowest was observed in Germany (4.4 percent). The youth unemployment rate, measuring job seekers aged 15 to 24, went up to 18.1 percent from 17.8 percent in July. Considering the European Union as a whole, the jobless rate was at 7.4 percent in July, up from 7.3 percent in the prior month. source: Eurostat
Unemployment Rate in the Euro Area averaged 9.56 percent from 1995 until 2020, reaching an all time high of 12.10 percent in April of 2013 and a record low of 7.20 percent in March of 2020. 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 October of 2020.
Unemployment Rate in Euro Area is expected to be 9.60 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 9.00 in 12 months time. In the long-term, the Euro Area Unemployment Rate is projected to trend around 8.80 percent in 2021 and 8.40 percent in 2022, according to our econometric models.