The Euro Area seasonally-adjusted unemployment rate edged down to 8.4 percent in October 2020, from an upwardly revised 8.5 percent in the previous month and moving further away from an over two-year high of 8.7 percent hit back in July. The number of unemployed decreased by 86,000 from the previous month to 13.825 million. Still, the Eurostat warns that the numbers do not capture in full the unprecedented labor market situation triggered by the COVID-19 outbreak, as people only count as unemployed if they were actively seeking work in the last four weeks and were available to start work within the next two weeks. There was a sharp increase in the number of claims for unemployment benefits across the bloc; while a significant part of those who had registered in unemployment agencies were no longer actively looking for a job or no longer available for work, for instance, if they had to take care of their children. 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 February 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 December 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.

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Euro Area Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
8.40 8.50 12.10 7.20 1995 - 2020 percent Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-09-01 09:00 AM Jul 7.9% 7.7% 8% 8%
2020-10-01 09:00 AM Aug 8.1% 8% 8.1% 8.2%
2020-10-30 10:00 AM Sep 8.3% 8.3% 8.3% 8.6%
2020-12-02 10:00 AM Oct 8.4% 8.5% 8.4% 8.5%
2021-01-08 10:00 AM Nov 8.4% 8.5% 8.5%
2021-02-01 10:00 AM Dec
2021-03-04 10:00 AM Jan
2021-04-06 09:00 AM Feb


News Stream
Eurozone Jobless Rate Falls in October
The Euro Area seasonally-adjusted unemployment rate edged down to 8.4 percent in October 2020, from an upwardly revised 8.5 percent in the previous month and moving further away from an over two-year high of 8.7 percent hit back in July. The number of unemployed decreased by 86,000 from the previous month to 13.825 million. Still, the Eurostat warns that the numbers do not capture in full the unprecedented labor market situation triggered by the COVID-19 outbreak, as people only count as unemployed if they were actively seeking work in the last four weeks and were available to start work within the next two weeks. There was a sharp increase in the number of claims for unemployment benefits across the bloc; while a significant part of those who had registered in unemployment agencies were no longer actively looking for a job or no longer available for work, for instance, if they had to take care of their children.
2020-12-02
Euro Area Unemployment Rate at 2-1/2-Year High
The unemployment rate in the Euro Area was unchanged at 8.3 percent in September of 2020, the same as an upwardly revised 8.3 percent in August and the highest since April of 2018. Figures came in line with market expectations and compare with 7.5 percent a year earlier. 13.612 million people were unemployed in the Euro Area in September, an increase of 75,000 from August and a rise of 1.376 million from a year earlier.
2020-10-30
Eurozone Jobless Rate Rises to Over 2-Year High
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.
2020-10-01
Eurozone Jobless Rate Rises to Over 1-1/2-Year High
The Euro Area seasonally-adjusted unemployment rate rose to 7.9 percent in July 2020 from a downwardly revised 7.7 percent in the previous month but slightly below market expectations of 8 percent. It was the highest jobless rate since November 2018, as the coronavirus pandemic hit the labor market. The number of unemployed persons increased by 344 thousand to 12.793 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 (15.8 percent), Italy (9.7 percent), and France (6.9 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 17.3 percent from 17.2 percent in June. Considering the European Union as a whole, the jobless rate was 7.2 percent in July, up from 7.1 percent in the prior month.
2020-09-01

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.