The Euro Area seasonally-adjusted unemployment rate edged up to 7.4 percent in March of 2020 from 7.3 percent in the previous month and below market expectations of 7.7 percent, as the number of unemployed persons increased by 197 thousand to 12.156 million. The COVID-19 confinement measures introduced in March 2020 have triggered a sharp increase in the number of claims for unemployment benefits across the EU. At the same time, a significant part of those who had registered in unemployment agencies were no longer actively looking for a job, e.g. limited by the confinement measures or no longer available for work, for instance, if they had to take care of their children during the lockdown. This leads to discrepancies in the number of registered unemployed and those measured as unemployed according to the ILO definition.

Unemployment Rate in the Euro Area averaged 9.59 percent from 1995 until 2020, 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. 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 May of 2020. source: Eurostat

Unemployment Rate in Euro Area is expected to be 9.50 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 11.20 in 12 months time. In the long-term, the Euro Area Unemployment Rate is projected to trend around 10.40 percent in 2021 and 9.10 percent in 2022, according to our econometric models.

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Euro Area Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
7.40 7.30 12.10 7.30 1995 - 2020 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-01-30 10:00 AM Dec 7.4% 7.5% 7.5% 7.5%
2020-03-03 10:00 AM Jan 7.4% 7.4% 7.4% 7.4%
2020-04-01 09:00 AM Feb 7.3% 7.4% 7.4% 7.4%
2020-04-30 09:00 AM Mar 7.4% 7.3% 7.7% 7.9%
2020-06-03 09:00 AM Apr 7.4% 8.2% 8.1%
2020-07-02 09:00 AM May
2020-07-30 09:00 AM Jun 9.5%
2020-09-01 09:00 AM Jul


News Stream
Eurozone Jobless Rate Rises Less Than Expected
The Euro Area seasonally-adjusted unemployment rate edged up to 7.4 percent in March of 2020 from 7.3 percent in the previous month and below market expectations of 7.7 percent, as the number of unemployed persons increased by 197 thousand to 12.156 million. The COVID-19 confinement measures introduced in March 2020 have triggered a sharp increase in the number of claims for unemployment benefits across the EU. At the same time, a significant part of those who had registered in unemployment agencies were no longer actively looking for a job, e.g. limited by the confinement measures or no longer available for work, for instance, if they had to take care of their children during the lockdown. This leads to discrepancies in the number of registered unemployed and those measured as unemployed according to the ILO definition.
2020-04-30
Eurozone Jobless Rate Hits 12-Year Low
The Euro Area seasonally-adjusted unemployment rate fell to 7.3 percent in February 2020, its lowest level since March 2008 and slightly below market expectations of 7.4 percent, as the number of unemployed decreased by 8,000 from the previous month to 12.047 million. Among the bloc's largest economies, the lowest unemployment rate was recorded in Germany (3.2 percent), while higher rates were observed in France (8.1 percent), Italy (9.7 percent) and Spain (13.6 percent).
2020-04-01
Eurozone Jobless Rate Remains at Lowest Since 2008
The Euro Area seasonally-adjusted unemployment rate stood at 7.4 percent in January 2020, its lowest level since May 2008 and in line with market expectations, as the number of unemployed edged up by 1,000 from the previous month to 12.179 million. Among the bloc's largest economies, the lowest unemployment rate was recorded in Germany (3.2 percent), while higher rates were observed in France (8.2 percent), Italy (9.8 percent) and Spain (13.7 percent). The youth unemployment rate, which measures job seekers aged 15 to 24, dropped to 15.6 percent from 16.1 percent in the same period a year earlier. Considering the European Union as a whole, the jobless rate was also unchanged at 6.2 percent, the lowest since comparable series began in January 2000.
2020-03-03
Eurozone Jobless Rate Falls to Over 11-Year Low
The Euro Area seasonally-adjusted unemployment rate fell to 7.4 percent in December 2019 from 7.5 percent in the previous month, below market expectations of 7.5 percent. It is the lowest jobless rate since May 2008, as the number of unemployed decreased by 34,000 from the previous month to 12,251. Among the bloc's largest economies, the lowest unemployment rate was recorded in Germany (3.2 percent), while higher rates were observed in France (8.4 percent), Italy (9.8 percent) and Spain (13.7 percent). The youth unemployment rate, which measures job seekers aged 15 to 24, dropped to 15.3 percent from 16.2 percent in the same period a year earlier. Considering the European Union as a whole, the jobless rate edged down to 6.2 percent from 6.3 percent in November, the lowest since comparable series began in January 2000.
2020-01-30

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.