Euro Area Unemployment Rate

The unemployment rate in the Euro Area was at 6.2% for a third month in January 2025, remaining at the record low level following the downward revision to December’s aggregate, and below market expectations of 6.3%. The data indicated that the Eurozone’s labor market remains at a tight level despite the slowdowns and contractions among the bloc’s largest economies. The number of unemployed individuals fell by 42 thousand from the previous month to 10.66 million. In the meantime, the youth unemployment rate inched lower to 14.1%. Among the bloc’s largest economies, the unemployment rate was the lowest in Germany (3.5%) and the Netherlands (3.8%), while remaining high in Spain (10.4%) and France (7.3%)