December 09, 2024

The seasonally adjusted unemployment rate for the euro area was 6.3% in October 2024, down from 6.6% in October 2023 but constant from September 2024. In October 2024, the unemployment rate in the EU was 5.9%, a decrease from 6.1% in October 2023 but stable compared with September 2024.

Eurostat estimates that 12.971 million persons in the EU, of whom 10.841 million in the euro area, were unemployed in October 2024.

• Compared with September 2024, unemployment decreased by 70 thousand in the EU and by 3 thousand in the euro area.
• Compared with October 2023, unemployment decreased by 416 thousand in the EU and by 411 thousand in the euro area.

Youth unemployment

It is reported that 2.995 million young people (those under 25) in the EU were unemployed in October 2024, with 2.427 million of those individuals living in the euro area. In the EU, the rate of youth unemployment fell to 15.2% in October 2024 from 15.3% in September 2024, while in the euro area, it increased to 15.0% from 14.9% in the previous month.

• Compared with September 2024, youth unemployment decreased by 17 thousand in the EU and increased by 35 thousand in the euro area.
• Compared with October 2023, youth unemployment decreased by 61 thousand in the EU, and by 22 thousand in the euro area.

Unemployment by sex

In October 2024, the EU’s unemployment rate for women remained at 6.1% from the previous month, while the rate for men fell to 5.7% from 5.8% in September 2024. In the euro area, the unemployment rate for men remained 6.1% from the previous month, and the rate for women was 6.5%, unchanged from the previous month.

(Source: Eurostat)

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