The Euro Area seasonally-adjusted unemployment rate fell to 7.9 percent in November 2018 from a downwardly revised 8 percent in the previous month and below market expectations of 8 percent. It was the lowest jobless rate since October 2008 as the number of unemployed continued to decline. Unemployment Rate in the Euro Area averaged 9.70 percent from 1995 until 2018, reaching an all time high of 12.10 percent in March of 2013 and a record low of 7.30 percent in October of 2007.

Unemployment Rate in Euro Area is expected to be 7.70 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 7.10 in 12 months time. In the long-term, the Euro Area Unemployment Rate is projected to trend around 6.80 percent in 2020, according to our econometric models.

Euro Area Unemployment Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-10-01 09:00 AM Unemployment Rate 8.1% 8.2% 8.1% 8.2%
2018-10-31 10:00 AM Unemployment Rate 8.1% 8.1% 8.1% 8.1%
2018-11-30 10:00 AM Unemployment Rate 8.1% 8.1% 8% 8.1%
2019-01-09 10:00 AM Unemployment Rate 7.9% 8% 8.1% 8.1%
2019-01-31 10:00 AM Unemployment Rate 7.9% 7.90%
2019-03-01 10:00 AM Unemployment Rate 7.70%
2019-04-02 09:00 AM Unemployment Rate 7.70%



Eurozone Jobless Rate Drops to Over 10-Year Low

The Euro Area seasonally-adjusted unemployment rate fell to 7.9 percent in November 2018 from a downwardly revised 8 percent in the previous month and below market expectations of 8 percent. It was the lowest jobless rate since October 2008 as the number of unemployed continued to decline.

Compared with October, the number of unemployed in the Euro Area decreased by 90,000 to 13.040 million. Compared with the previous year, it fell by 1.135 million.

Considering the European Union as a whole, the unemployment rate stood at 6.7 percent in November, unchanged from previous month and down from 7.3 percent a year ago. This remained the lowest rate recorded in the EU28 since the start of the EU monthly unemployment series in January 2000. There were 16.491 million people unemployed, a decrease of 107,000 from the previous month and of 1.489 million from November 2017.

Among EU Member States, the lowest unemployment rates in November were recorded in Czechia (1.9 percent), Germany (3.3 percent) and the Netherlands (3.5 percent). The highest unemployment rates were observed in Greece (18.6 percent in September 2018) and Spain (14.7 percent). Compared with a year ago, the largest decreases were registered in Croatia (7.8 percent from 10 percent), Greece (18.6 percent from 20.8 percent between November 2018 and November 2017) and Spain (14.7 percent from 16.5 percent).

The youth unemployment rate was 15.2 percent in the EU28 and 16.9 percent in the Euro Area, compared with 16.1 percent and 17.8 percent respectively in November 2017. The lowest rates were observed in Czechia (4.9 percent), Germany (6.1 percent) and the Netherlands (6.9 percent), while the highest were recorded in Greece (36.6 percent in September 2018), Spain (34.1 percent) and Italy (31.6 percent).


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
1/9/2019 10:17:24 AM



Euro Area Labour Last Previous Highest Lowest Unit
Unemployment Rate 7.90 8.00 12.10 7.30 percent [+]
Unemployed Persons 12949.00 13080.00 19193.00 11403.00 Thousand [+]
Employed Persons 158.29 157.97 158.29 117.36 Million [+]
Long Term Unemployment Rate 3.90 4.10 6.30 2.70 percent [+]
Youth Unemployment Rate 16.90 17.10 24.70 14.80 percent [+]
Productivity 105.30 105.20 105.30 82.60 Index Points [+]
Labour Costs 106.40 113.90 114.10 85.10 Index Points [+]
Wage Growth 2.40 2.10 3.40 0.80 percent [+]
Population 340.72 339.88 340.72 260.38 Million [+]
Employment Change 0.20 0.40 0.80 -0.70 percent [+]
Part Time Employment 31590.10 31245.90 31590.10 19769.20 Thousand [+]
Labor Force Participation Rate 57.20 57.00 57.30 55.00 percent [+]
Full Time Employment 115128.40 113849.60 118899.50 107478.10 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 January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
7.90 8.00 12.10 7.30 1995 - 2018 percent Monthly
SA




Country Last Previous
South Africa 27.50 Sep/18
Spain 14.55 Sep/18
Brazil 11.60 Nov/18
Turkey 11.60 Oct/18
Italy 10.50 Nov/18
France 9.10 Sep/18
Argentina 9.00 Sep/18
Euro Area 7.90 Nov/18
Saudi Arabia 6.00 Jun/18
Canada 5.60 Dec/18
Indonesia 5.34 Sep/18
Australia 5.10 Nov/18
Russia 4.80 Nov/18
United Kingdom 4.00 Nov/18
United States 3.90 Dec/18
China 3.80 Dec/18
South Korea 3.80 Dec/18
Netherlands 3.60 Dec/18
India 3.52 Dec/17
Mexico 3.40 Dec/18
Germany 3.30 Nov/18
Switzerland 2.70 Dec/18
Japan 2.50 Nov/18
Singapore 2.10 Sep/18


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