The Euro Area seasonally-adjusted unemployment rate edged down to 7.9 percent in May 2021, the lowest level since May 2020 and slightly below market expectations of 8.0 percent. The number of unemployed decreased by 306 thousand to 12.792 million, as the labor market showed signs of recovery amid the gradual easing of coronavirus-induced restrictions. The youth unemployment rate, measuring job-seekers under 25 years old, edged down to 17.5 percent in May, from 18.4 percent in the previous month. Amongst the largest Euro Area economies, the highest jobless rates were recorded in Spain (15.3 percent), Italy (10.5 percent) and France (7.5 percent), while the lowest rates were recorded in the Netherlands (3.3 percent) and Germany (3.7 percent). source: EUROSTAT
Unemployment Rate in the Euro Area averaged 9.54 percent from 1995 until 2021, reaching an all time high of 12.10 percent in January of 2013 and a record low of 7.10 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 July of 2021.
Unemployment Rate in Euro Area is expected to be 8.30 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 7.90 in 12 months time. In the long-term, the Euro Area Unemployment Rate is projected to trend around 7.70 percent in 2022 and 7.40 percent in 2023, according to our econometric models.