The unemployment rate in the Euro Area fell to a new record low of 6.5% in October of 2022 from 6.6% in the prior month, slightly below market estimates of 6.6%. It compares with a much higher jobless rate of 7.3% in the corresponding period of 2021, as economic stimulus and growth-oriented policy supported the labor market's recovery from the pandemic. There were 10.872 million unemployed persons in October, 142 thousand less than in the previous month. source: EUROSTAT
Unemployment Rate in the Euro Area averaged 9.44 percent from 1995 until 2022, reaching an all time high of 12.20 percent in January of 2013 and a record low of 6.50 percent in October of 2022. 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 December of 2022.
Unemployment Rate in Euro Area is expected to be 7.10 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 7.50 percent in 2023 and 7.30 percent in 2024, according to our econometric models.