In October 2024, the seasonally-adjusted unemployment rate in the euro area was 6.3%, stable compared with September 2024 and down from 6.6% in October 2023. At the same time, the EU unemployment rate was 5.9% in October 2024, which was also stable compared with September 2024, and it was down from 6.1% in October 2023, according to Eurostat, the statistical office of the European Union.

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 70,000 in the EU and 3,000 in the euro area. Compared with October 2023, unemployment decreased by 416,000 in the EU and 411,000 in the euro area.

The lowest unemployment rate in the EU in October 2024 was in Czechia (2.6%), while the highest was in Spain (11.2%).

Meanwhile, in October 2024, the unemployment rate for women was 6.1% in the EU, stable compared with the previous month and down from 6.4%. In the euro area, the rate was 6.5% in October, unchanged from September 2024 and down from 7.0% in October 2023.

For men, the euro area was 6.1%, unchanged from September 2024 and down 0.1% from October 2023. In the EU, the unemployment rate was 5.7% in October 2024, down 0.1% from September this year and down 0.1% from October 2023.

In October 2024, 2.995 million young persons (under 25) were unemployed in the EU, of whom 2.427 million were in the euro area.

In October 2024, the youth unemployment rate was 15.2% in the EU, down from 15.3% in September 2024 and 15.0% in the euro area, up from 14.9% in the previous month.

Compared with September 2024, youth unemployment decreased by 17,000 in the EU and increased by 35,000 in the euro area. Compared with October 2023, youth unemployment increased by 61,000 in the EU and 22,000 in the euro area.