Euro area unemployment rate was 6.5% in March, stable compared with February and down from 6.6% in March 2023; an estimated 11.087 million in the euro area were unemployed in March: Eurostat

LUXEMBOURG , May 3, 2024 (press release) –

EU at 6.0%

Overview
In March 2024, the euro area seasonally-adjusted unemployment rate was 6.5%, stable compared with February 2024 and down from 6.6% in March 2023. The EU unemployment rate was 6.0% in March 2024, down from 6.1% in February 2024 and stable compared with March 2023. These figures are published by Eurostat, the statistical office of the European Union.

Eurostat estimates that 13.258 million persons in the EU, of whom 11.087 million in the euro area, were unemployed in March 2024.

• Compared with February 2024, unemployment decreased by 74 thousand in the EU and by 94 thousand in the euro area.
• Compared with March 2023, unemployment increased by 175 thousand in the EU and decreased by 51 thousand in the euro area.

Youth unemployment
In March 2024, 2.858 million young persons (under 25) were unemployed in the EU, of whom 2.259 million were in the euro area. In March 2024, the youth unemployment rate was 14.6% in the EU, down from 14.7% in February 2024, and 14.1% in the euro area, down from 14.4% in the previous month.

• Compared with February 2024, youth unemployment decreased by 11 thousand in the EU and by 30 thousand in the euro area.
• Compared with March 2023, youth unemployment increased by 150 thousand in the EU and by 36 thousand in the
• euro area.

Unemployment by sex
In March 2024, the unemployment rate for women was 6.4% in the EU, stable compared with February 2024, and the unemployment rate for men was 5.7%, down from 5.8% in the previous month. In the euro area, the unemployment rate for women was 7.0%, stable compared with February 2024, and the unemployment rate for men was 6.0%, down from 6.1% in the previous month.

Additional labour market indicators
The estimates in this News Release are based on the globally used International Labour Organisation (ILO) standard definition of unemployment, which counts as unemployed people without a job who have been actively seeking work in the last four weeks and are available to start work within the next two weeks.

To capture in full the labour market situation, the data on unemployment have been complemented by additional indicators, e.g. underemployed part-time workers, persons seeking work but not immediately available and persons available to work but not seeking, released together with LFS data for the fourth quarter of 2023.

LFS data for the first quarter of 2024 will be released on 14 June 2024.

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