In December 2024, the unemployment rate in the Euro Area rose slightly to 6.3%, up from a revised record low of 6.2% in November, aligning with market expectations.
Euro Area unemployment rises to 6.3% in December
The number of unemployed individuals increased by 96,000 from the previous month, reaching a three-month high of 10.83 million.
The youth unemployment rate, which tracks job seekers under 25, slightly improved, easing to 14.8% in December from a revised 14.9% in November. This suggests some stabilization in youth employment, although the figure remains high.
Among the largest Eurozone economies, Spain had the highest unemployment rate, at 10.6%, followed by France with 7.8% and Italy with 6.2%. Germany had the lowest unemployment rate, at 3.4%, reflecting its more muscular labor market conditions.
Euro Area unemployment improves slightly YoY
Looking back a year, the region's unemployment rate was higher at 6.5%, indicating a slight improvement over the past 12 months, although challenges remain in achieving significant job growth across the Euro Area.
