In February 2024, the euro area seasonally-adjusted unemployment rate was 6.5%, stable compared with January 2024 and down from 6.6% in February 2023. The EU unemployment rate was 6.0% in February 2024, also stable compared with January 2024 and compared with February 2023. These figures are published by Eurostat, the statistical office of the European Union.
Eurostat estimates that 13.249 million persons in the EU, of whom 11.102 million in the euro area, were unemployed in February 2024.
Compared with January 2024, unemployment decreased by 13 thousand in the EU and increased by 17 thousand in the euro area.
Compared with February 2023, unemployment increased by 156 thousand in the EU and decreased by 30 thousand in the euro area.
Youth unemployment
In February 2024, 2.899 million young persons (under 25) were unemployed in the EU, of whom 2.319 million were in the euro area. In February 2024, the youth unemployment rate was 14.8% in the EU, down from 14.9% in January 2024, and 14.6% in the euro area, stable compared to the previous month.
Compared with January 2024, youth unemployment decreased by 13 thousand in the EU and by 4 thousand in the euro area.
Compared with February 2023, youth unemployment increased by 174 thousand in the EU and by 91 thousand in the
euro area.
Unemployment by sex
In February 2024, the unemployment rate for women was 6.4% in the EU, stable compared with January 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 6.9% and the unemployment rate for men was 6.1%, both stable compared with January 2024.
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.
Tables
Notes for users
Revisions and timetable
The data in this News Release can be subject to revisions, caused by updates to the seasonally adjusted series whenever new monthly data are added; the inclusion of the most recent LFS data in the calculation process; update of seasonal adjustment models with complete annual data.
Compared with the rates published in the News Release of 1 March 2024, the January 2024 unemployment rate for the euro area has been revised from 6.4% to 6.5%, while the unemployment rate for the EU remained unchanged. Among EU Member States, the rate has been revised by more than 0.1 percentage points (pp) upwards for Denmark (by 1.3 pp), Estonia and Malta (by 0.5 pp each) as well as for Greece (by 0.2 pp). The rate has not been revised by more than 0.1 percentage points (pp) downwards for any of the countries.
Country notes
Germany, the Netherlands, Finland, Sweden as well as Iceland and Norway: the trend component is used instead of the more volatile seasonally adjusted data.
Estonia and Portugal: 3-month moving averages of LFS data are used instead of pure monthly indicators.
Methods and definitions
Eurostat publishes harmonised unemployment rates for individual EU Member States, the euro area and the EU. These unemployment rates are based on the definition recommended by the International Labour Organisation (ILO). The measurement is based on a harmonised data source, the European Union Labour Force Survey (LFS).
Based on the ILO definition, Eurostat defines unemployed persons as persons aged 15 to 74 who:
are without work;
are available to start work within the next two weeks;
and have actively sought employment at some time during the previous four weeks.
The unemployment rate is the number of people unemployed as a percentage of the labour force.
The labour force is the total number of people employed plus unemployed. In this news release, unemployment rates are based on employment and unemployment data covering persons aged 15 to 74.
The youth unemployment rate is the number of people aged 15 to 24 unemployed as a percentage of the labour force of the same age. Therefore, the youth unemployment rate should not be interpreted as the share of jobless people in the overall youth population.
When data for the most recent month are not available for a Member State, EU and EA aggregates are calculated using the latest data available for that Member State.
Euro area annual inflation is expected to be 2.4% in March 2024, down from 2.6% in February according to a flash estimate from Eurostat, the statistical office of the European Union.
Looking at the main components of euro area inflation, services are expected to have the highest annual rate in March (4.0%, stable compared with February), followed by food, alcohol & tobacco (2.7%, compared with 3.9% in February), non-energy industrial goods (1.1%, compared with 1.6% in February) and energy (-1.8%, compared with -3.7% in February).