Euro Area Unemployment Rate

The unemployment rate in the Euro Area ticked up to 6.3% in December 2024, compared to a revised record low of 6.2% in November and in line with market forecasts. The number of unemployed individuals rose by 96 thousand from the prior month to a three-month high of 10.830 million. Meanwhile, the youth unemployment rate, reflecting those under 25 seeking employment, eased to 14.8% in December, from a revised 14.9% in the previous month. Among the major economies of the Euro Area, Spain reported the highest unemployment rate at 10.6%, with France at 7.8% and Italy at 6.2%. Germany, by contrast, recorded the lowest rate at 3.4%. A year ago, the jobless rate was higher at 6.5%.