The seasonally-adjusted unemployment rate in the Euro Area edged down to 6.5% in April 2023, the lowest rate on record and coming in line with market expectations. The latest figure represented a drop from last year's rate of 6.7% and pointed to a tight labor market. The number of unemployed declined by 33 thousand from a month earlier to 11.088 million, the lowest level since comparable records began in 1995. The youth unemployment rate, measuring job-seekers under 25 years old, edged down to 13.9% in April from 14% in March. Amongst the largest Euro Area economies, the lowest jobless rate was recorded in Germany (2.9%), while the highest rates were registered in Spain (12.7%), Italy (7.8%) and France (7%). source: EUROSTAT
Unemployment Rate in Euro Area averaged 9.39 percent from 1995 until 2023, reaching an all time high of 12.20 percent in January of 2013 and a record low of 6.50 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 June 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.