The Euro Area seasonally-adjusted unemployment rate fell to 7.5 percent in May 2019 from 7.6 percent in the previous month and below market expectations of 7.6 percent. It was the lowest jobless rate since July 2008 as the number of unemployed continued to decline. Unemployment Rate in the Euro Area averaged 9.66 percent from 1995 until 2019, 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.

Unemployment Rate in Euro Area is expected to be 7.40 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 7.30 in 12 months time. In the long-term, the Euro Area Unemployment Rate is projected to trend around 6.70 percent in 2020, according to our econometric models.

Euro Area Unemployment Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-04-01 09:00 AM Unemployment Rate Feb 7.8% 7.8% 7.8% 7.8%
2019-04-30 09:00 AM Unemployment Rate Mar 7.7% 7.8% 7.8% 7.7%
2019-06-04 09:00 AM Unemployment Rate Apr 7.6% 7.7% 7.7% 7.7%
2019-07-01 09:00 AM Unemployment Rate May 7.5% 7.6% 7.6% 7.6%
2019-07-31 09:00 AM Unemployment Rate Jun 7.5% 7.5%
2019-08-30 09:00 AM Unemployment Rate Jul 7.5%
2019-09-30 09:00 AM Unemployment Rate Aug 7.5%



Eurozone Jobless Rate Drops to Near 11-Year Low

The Euro Area seasonally-adjusted unemployment rate fell to 7.5 percent in May 2019 from 7.6 percent in the previous month and below market expectations of 7.6 percent. It was the lowest jobless rate since July 2008 as the number of unemployed continued to decline.

Compared with April, the number of unemployed in the Euro Area decreased by 103,000 to 12.348 million. Compared with the previous year, it fell by 1.133 million.

Considering the European Union as a whole, the unemployment rate edged down to 6.3 percent in May from 6.4 percent in previous month and from 6.9 percent a year ago. That was the lowest rate recorded in the EU28 since the start of the EU monthly unemployment series in January 2000. There were 15.653 million people unemployed, a decrease of 71,000 from the previous month and of 1.277 million from May 2018.

Among EU Member States, the lowest unemployment rates in May were recorded in Czechia (2.2 percent), Germany (3.1 percent) and the Netherlands (3.3 percent). The highest unemployment rates were observed in Greece (18.1 percent in March 2019), Spain (13.6 percent) and Italy (9.9 percent). Compared with a year ago, the largest decreases were registered in Greece (18.1 percent from 20.2 percent between March 2019 and March 2018), Spain (13.6 percent from 15.4 percent) and Cyprus (6.5 percent from 8.3 percent).

The youth unemployment rate was 14.3 percent in the EU28 and 15.7 percent in the Euro Area, compared with 15.1 percent and 17.0 percent respectively in May 2018. The lowest rates were observed in Germany (5.1 percent) and the Netherlands (6.3 percent), while the highest were recorded in Greece (40.4 percent in March 2019), Spain (31.7 percent) and Italy (30.5 percent).


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
7/1/2019 9:18:17 AM



Euro Area Labour Last Previous Highest Lowest Unit
Unemployment Rate 7.50 7.60 12.10 7.30 percent [+]
Unemployed Persons 12263.00 12443.00 19197.00 11391.00 Thousand [+]
Employed Persons 159.53 158.98 159.53 117.36 Million [+]
Long Term Unemployment Rate 3.50 3.50 6.30 2.70 percent [+]
Youth Unemployment Rate 15.70 15.80 24.80 14.80 percent [+]
Productivity 105.10 105.20 105.30 82.60 Index Points [+]
Labour Costs 99.60 110.60 110.60 83.30 Index Points [+]
Wage Growth 2.50 2.30 3.40 0.80 percent [+]
Population 340.72 339.88 340.72 260.38 Million [+]
Employment Change 0.30 0.30 0.80 -0.70 percent [+]
Part Time Employment 31594.70 31393.20 31594.70 19769.20 Thousand [+]
Labor Force Participation Rate 57.40 57.30 57.40 55.00 percent [+]
Full Time Employment 115273.20 116162.30 118849.00 107485.60 Thousand [+]
Retirement Age Men 64.36 64.27 64.36 62.24 [+]
Retirement Age Women 63.96 63.86 63.96 61.66 [+]


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. 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 - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
7.50 7.60 12.10 7.30 1995 - 2019 percent Monthly
SA




Country Last Previous
South Africa 27.60 Mar/19
Spain 14.70 Mar/19
Turkey 13.00 Apr/19
Brazil 12.30 May/19
Argentina 10.10 Mar/19
Italy 9.90 May/19
France 8.70 Mar/19
Euro Area 7.50 May/19
India 6.00 Dec/18
Saudi Arabia 5.70 Mar/19
Canada 5.50 Jun/19
Australia 5.20 Jun/19
Indonesia 5.01 Mar/19
Russia 4.40 Jun/19
South Korea 4.00 Jun/19
United Kingdom 3.80 May/19
United States 3.70 Jun/19
China 3.67 Mar/19
Mexico 3.50 May/19
Netherlands 3.40 Jun/19
Germany 3.10 May/19
Japan 2.40 May/19
Singapore 2.20 Mar/19
Switzerland 2.10 Jun/19


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