Euro Area Unemployment Rate

The unemployment rate in the Euro Area stood at a record low of 6.5% in February 2024, matching January's revised figure and compared with market forecasts of 6.4%. The number of unemployed individuals increased by 17 thousand from the prior month to 11.102 million. Meanwhile, the youth unemployment rate, reflecting those under 25 seeking employment, was unchanged for the fourth consecutive month at 14.6% in February. Across the major Euro Area economies, Spain continues to report the highest jobless rate at 11.5%, followed by Italy at 7.5% and France at 7.4%. Conversely, Germany recorded the lowest rate at 3.2%. A year earlier, the jobless rate was slightly higher at 6.6%.