Euro Area: Unemployment rate falls in July
The seasonally adjusted unemployment rate edged down to 6.4% in July from June’s 6.5%. As for the Eurozone’s largest economies,...
Unemployment in Euro Area
The Euro area's unemployment rate from 2013 to 2022 showed a gradual improvement overall, despite some fluctuations. The early part of the decade saw high rates due to the Eurozone crisis, but a steady recovery followed. The COVID-19 pandemic caused a temporary increase in unemployment, but by 2022, the rate had decreased to record lows.
The unemployment rate in the Euro Area averaged 9.2% in the decade to 2022, above the 6.3% average for major economies. The unemployment rate in 2022 was 6.7%. For more unemployment information, visit our dedicated page.
Euro Area Unemployment Chart
Note: This chart displays Unemployment Rate for Euro Area from 2014 to 2023.
Source: Macrobond.
Euro Area Unemployment Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Unemployment (% of active population, aop) | 7.6 | 8.0 | 7.8 | 6.8 | 6.6 |
| Unemployment (% of active population, eop) | 7.5 | 8.2 | 7.0 | 6.7 | 6.5 |
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects European unemployment projections for the next ten years from a panel of 39 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable unemployment forecast available for European unemployment.
Download one of our sample reports to visualize what a Consensus Forecast is and see our European unemployment projections.
Want to get access to the full dataset of European unemployment forecasts? Send an email to info@focus-economics.com.
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