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Employment rate slightly up in Q4 2023

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 In the EU, the employment rate of people aged 20-64 stood at 75.5% in the fourth quarter of 2023, an increase of 0.1 percentage points (pp) compared with the third quarter of 2023. 

Labour market slack – encompassing those with unmet employment needs, a large part of which includes unemployed individuals – amounted to 11.2% of the extended labour force aged 20-64 in the fourth quarter of 2023 (- 0.1 pp compared with the third quarter of 2023).

This information comes from data on the labour market in the fourth quarter of 2023 published today by Eurostat. This article presents only a handful of findings from the more detailed Statistics Explained article.

Employment rate and labour market slack in the EU. Bar chart, line graph. Click dataset below for more information.

Source datasets: lfsi_emp_q and lfsi_sla_q

Between the third and the fourth quarter of 2023, the employment rate varied across the EU countries. Croatia (+1.5 pp) and Greece (+0.7 pp) registered the highest increases among the 11 EU countries where employment rose. The employment rate remained stable in France, the Netherlands and Romania and decreased in 10 EU countries, with the biggest decreases recorded in Luxembourg (-1.0 pp) and Lithuania (-0.6 pp).

Change in employment rate in EU countries. Bar chart. Click dataset below for more information.

Source dataset: lfsi_emp_q

In the fourth quarter of 2023, the job vacancy rate was 2.7% in the euro area, down from 2.9% in the previous quarter and 3.1% in the fourth quarter of 2022, according to figures published by Eurostat, the statistical office of the European Union. The job vacancy rate in the EU was 2.5% in the fourth quarter of 2023, down from 2.6% in the previous quarter and from 2.8% in the fourth quarter of 2022.

In the euro area, the job vacancy rate in the fourth quarter of 2023 was

  • 2.5% in industry and construction, and

  • 3.0% in services.

In the EU, the rate was

  • 2.3% in industry and construction, and

  • 2.7% in services.

Job vacancy rate by Member States

Among the Member States for which comparable data are available (see country notes), the highest job vacancy rates in the fourth quarter of 2023 were recorded in Belgium (4.4%), Netherlands (4.2%), Austria (4.1%) and Germany (3.9%). By contrast, the lowest rates were observed in Bulgaria and Romania (0.7% in both of them), Spain and Poland (0.8% in both of them), Ireland (1.0%) and Slovakia (1.1%).

Compared with the same quarter of the previous year, the job vacancy rate increased in five Member States, remained stable in three Member States and decreased in nineteen Member States. The largest increases were observed in Cyprus (+0.9 pp), Greece (+0.8 pp) and Malta (+0.4 pp). The largest decreases were recorded in Austria (-1.0 pp), Luxembourg (-0.9 pp), and Czechia (-0.8 pp).

Breakdown by economic activity

The figure below presents the job vacancy rates of the EU and the euro area by economic activity, in the fourth quarter of 2023. Data are displayed for the business economy, for which data are available from all EU countries. The highest job vacancy rates, for both the EU and the euro area, were recorded in:

  • Section N: "Administrative and support service activities" that includes temporary employment agencies (4.4% in the euro area, 4.2% in the EU),

  • Section F: "Construction" (3.8% in the euro area, 3.4% in the EU),

  • Section M: "Professional, scientific and technical activities" (3.4% in the euro area, 3.1% in the EU),

  • Section J: "Information and communication" (3.3% in the euro area, 3.0% in the EU) and

  • Section I: "Accommodation and food service activities" (3.0% in the euro area, 2.9% in the EU).

Tables

Job vacancy rates – whole economy (%)

– not seasonally adjusted –

2022Q4

2023Q1

2023Q2

2023Q3

2023Q4

Euro area

3.1

3.1

3.0

2.9

2.7

EU

2.8

2.8

2.8

2.6

2.5

Belgium

4.5

4.7

4.6

4.7

4.4

Bulgaria

0.8

0.9

0.8

0.8

0.7

Czechia

4.2

3.9

3.8

3.6

3.4

Germany

4.4

4.1

4.1

4.1

3.9

Estonia

1.8

1.9

1.8

2.0

1.6

Ireland

1.3

1.4

1.3

1.2

1.0

Greece

0.9

1.5

1.6

1.6

1.7

Spain

0.9

0.9

0.9

0.9

0.8

Croatia

1.4

2.1

1.7

1.6

1.4

Cyprus

1.9

2.8

2.9

2.9

2.8

Latvia

2.5

2.7

2.8

2.8

2.5

Lithuania

1.7

1.9

2.0

2.0

1.9

Luxembourg

2.4

2.2

1.9

1.8

1.5

Hungary

2.5

2.6

2.5

2.4

2.3

Malta

2.5

2.6

2.7

2.9

2.9

Netherlands

4.5

4.7

4.7

4.5

4.2

Austria

5.1

5.2

4.9

4.6

4.1

Poland

0.9

0.9

0.9

0.9

0.8

Portugal

1.5

1.3

1.5

1.4

1.3

Romania

0.8

0.9

0.8

0.8

0.7

Slovenia

2.5

3.0

2.9

2.7

2.2

Slovakia

1.0

1.1

1.0

1.1

1.1

Finland

2.0

3.3

2.2

1.8

1.8

Sweden

2.6

3.7

3.2

2.2

2.1

Iceland

2.6

3.6

2.5

2.8

2.0

Norway

3.4

4.3

4.1

3.5

3.1

Switzerland

2.2

2.3

2.2

2.0

2.0

Job vacancy rates – restricted coverage* (%)

– not seasonally adjusted –

2022Q4

2023Q1

2023Q2

2023Q3

2023Q4

Denmark

3.0

2.9

2.9

2.6

2.3

France

2.5

2.4

2.5

2.1

2.1

Italy

1.9

2.6

2.4

2.1

1.9

* see "country notes" under Methods and definitions

: data not available

Source dataset: jvs_q_nace2

ec.europa.eu/eurostat

Job vacancy rates by main economic activity branches (%)

 – not seasonally adjusted –

Industry and construction
(NACE Rev. 2 section B to F)

Services
(NACE Rev. 2 section G to N)

2022Q4

2023Q1

2023Q2

2023Q3

2023Q4

2022Q4

2023Q1

2023Q2

2023Q3

2023Q4

Euro area

2.9

2.8

2.7

2.6

2.5

3.4

3.4

3.3

3.2

3.0

EU

2.6

2.6

2.5

2.4

2.3

3.1

3.2

3.1

2.9

2.7

Belgium

4.2

4.5

4.4

4.4

3.8

5.9

6.0

6.0

6.0

5.8

Bulgaria

0.6

0.7

0.6

0.7

0.6

0.7

0.8

0.7

0.7

0.6

Czechia

5.2

4.9

4.7

4.4

4.1

5.4

5.1

4.8

4.6

4.6

Denmark

2.9

2.6

2.6

2.4

2.1

3.0

3.0

3.0

2.7

2.4

Germany

4.1

3.6

3.5

3.4

3.5

5.2

4.8

4.7

4.8

4.6

Estonia

1.1

1.1

1.0

0.8

0.7

1.9

1.9

1.9

2.3

1.6

Ireland

1.0

1.1

0.7

0.7

0.7

1.4

1.4

1.1

1.1

0.9

Greece

1.7

1.8

1.7

2.0

2.2

0.9

2.3

2.3

1.9

1.8

Spain

0.4

0.5

0.6

0.5

0.5

0.7

0.8

0.8

0.8

0.7

Croatia

1.1

1.7

1.6

1.6

1.1

1.0

2.2

1.6

1.1

1.0

Italy

2.1

2.4

2.3

2.2

2.0

1.8

2.9

2.4

2.1

1.8

Cyprus

1.2

2.2

1.6

2.1

2.1

2.1

3.5

3.8

3.3

3.2

Latvia

2.5

2.9

2.7

2.5

2.1

2.1

2.1

2.4

2.5

2.1

Lithuania

1.5

1.8

1.9

1.9

1.7

1.8

2.1

2.1

2.1

1.9

Luxembourg

1.2

1.2

1.1

1.1

0.9

3.6

3.1

2.7

2.6

2.1

Hungary

2.5

2.5

2.3

2.2

1.9

2.4

2.4

2.3

2.3

2.1

Malta

2.6

2.3

2.6

3.3

3.0

3.1

3.3

3.1

3.3

3.4

Netherlands

4.9

5.0

5.2

5.0

4.7

4.9

5.1

5.1

4.7

4.4

Austria

5.2

5.8

4.5

4.3

3.9

6.6

6.6

6.3

6.0

5.4

Poland

1.0

1.0

0.9

1.0

0.8

1.0

1.0

1.0

1.0

0.8

Portugal

1.2

1.3

1.3

1.3

1.2

2.5

2.0

2.4

2.2

2.0

Romania

0.8

0.9

0.8

0.8

0.6

0.8

0.9

0.8

0.8

0.7

Slovenia

2.8

3.7

3.1

2.9

2.7

3.1

3.8

3.6

3.3

2.7

Slovakia

0.8

0.9

0.8

0.8

0.8

0.8

0.9

0.8

0.8

0.9

Finland

1.5

2.2

1.2

1.1

1.1

2.6

4.1

2.7

2.4

2.3

Sweden

2.2

2.9

2.5

1.9

1.7

2.8

3.6

3.2

2.5

2.4

Iceland

3.6

4.2

4.4

4.5

3.4

3.8

5.1

3.1

3.0

2.4

Norway

2.5

3.1

3.4

2.9

2.5

4.0

5.6

4.8

3.9

3.3

Switzerland

2.5

2.8

2.8

2.4

2.3

2.5

2.5

2.3

2.2

2.1

Job vacancy rates by main economic activity branches (%),

restricted coverage*

– not seasonally adjusted –

Industry and construction
(NACE Rev. 2 section B to F)

Services
(NACE Rev. 2 section G to N)

2022Q4

2023Q1

2023Q2

2023Q3

2023Q4

2022Q4

2023Q1

2023Q2

2023Q3

2023Q4

France

2.4

2.2

2.2

2.1

2.0

2.4

2.3

2.3

1.9

1.9

* see "country notes" under Methods and definitions

: data not available

Source dataset: jvs_q_nace2

ec.europa.eu/eurostat

Job vacancy rates NACE Rev. 2 sections, %

– not seasonally adjusted –

Euro area

2022Q4

2023Q1

2023Q2

2023Q3

2023Q4

B: Mining and quarrying

1.5

2.8

1.5

1.5

1.3

C: Manufacturing

2.4

2.3

2.2

2.2

2.1

D: Electricity, gas, steam and air conditioning supply

1.8

2.0

1.8

1.6

2.0

E: Water supply; sewerage, waste management and remediation activities

2.0

2.1

2.2

1.8

1.9

F: Construction

4.2

4.2

4.0

3.9

3.8

G: Wholesale and retail trade; repair of motor vehicles and motorcycles

2.6

2.6

2.6

2.5

2.5

H: Transportation and storage

2.8

2.9

2.8

2.6

2.4

I: Accommodation and food service activities

3.7

4.5

3.9

3.3

3.0

J: Information and communication

4.1

3.8

3.5

3.4

3.3

K: Financial and insurance activities

2.0

2.0

2.1

2.1

2.1

L: Real estate activities

2.1

2.0

2.2

1.9

2.0

M: Professional, scientific and technical activities

4.1

3.9

4.1

4.3

3.4

N: Administrative and support service activities

4.8

4.8

4.5

4.3

4.4

ec.europa.eu/eurostat

Job vacancy rates NACE Rev. 2 sections, %

– not seasonally adjusted –

EU

2022Q4

2023Q1

2023Q2

2023Q3

2023Q4

B: Mining and quarrying

1.0

1.6

1.1

1.0

0.9

C: Manufacturing

2.3

2.2

2.1

2.1

1.9

D: Electricity, gas, steam and air conditioning supply

1.8

1.9

1.7

1.6

1.9

E: Water supply; sewerage, waste management and remediation activities

1.8

1.9

1.9

1.6

1.7

F: Construction

3.8

3.8

3.6

3.5

3.4

G: Wholesale and retail trade; repair of motor vehicles and motorcycles

2.3

2.3

2.3

2.2

2.2

H: Transportation and storage

2.7

2.7

2.6

2.4

2.3

I: Accommodation and food service activities

3.4

4.2

3.7

3.1

2.9

J: Information and communication

3.8

3.5

3.3

3.2

3.0

K: Financial and insurance activities

1.9

1.9

2.0

2.0

1.9

L: Real estate activities

2.1

2.2

2.2

1.9

2.0

M: Professional, scientific and technical activities

3.9

3.6

3.7

3.9

3.1

N: Administrative and support service activities

4.6

4.5

4.3

4.1

4.2

ec.europa.eu/eurostat

Between the third and the fourth quarter of 2023, 3.2 million unemployed people aged 15-74 in the EU (24.5% of all unemployed in the third quarter of 2023) found a job. During this period, 6.7 million (51.1%) remained unemployed, while 3.2 million unemployed people (24.4%) transitioned out of the labour force.

The information comes from recently published data on labour market flows in the fourth quarter of 2023. This article presents a handful of findings from the more detailed Statistics Explained article.

Transitions in labour market status in the EU, Q3 2023 - Q4 2023, population aged 15-74, in millions. Chart. See link to full dataset below​


 
Source dataset: lfsi_long_q 

The visual and table give an overview of all possible transitions and show the changes in labour market status. In the visual, the figures for employment, unemployment and out of the labour force refer to the number of people remaining in each status between the two quarters. The grey arrows indicate the direction of net flows (see methodological notes). 

Transitions in labour market statusin the EU, Q3 2023 - Q4 2023, population aged 15-74, as % of initial status. Chart. See link to full dataset below.​

Source dataset: lfsi_long_q 

Of all those in employment in the third quarter of 2023, 2.5 million (1.2%) became unemployed in the fourth quarter of 2023, and 4.9 million (2.4%) transitioned out of the labour force.

From those counted as out of the labour force in the third quarter of 2023, 5.2 million (4.5%) moved into employment in the fourth quarter of 2023 and 4.1 million (3.5%) transitioned into unemployment.

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