Euro Area Unemployment Rate

The unemployment rate in the Euro Area stood at an all-time low of 6.3% in October of 2024, unchanged from September and in line with market forecasts. The number of unemployed individuals fell by 3 thousand from the prior month to 10.841 million. The youth unemployment rate, reflecting those under 25 seeking employment, rose to 15% in October, the highest since October 2023, after an upwardly revised 14.9% in the preceding month. Among the major Euro Area economies, Spain still showed the highest unemployment rate at 11.2%, followed by France at 7.6% and Italy at 5.8%. In contrast, Germany reported the lowest rate at 3.4%. A year earlier, the jobless rate was higher at 6.6%.