Eurozone unemployment remains at a historic low despite weak economy

The European Union’s unemployment rate was 5.8% in January 2025 and 6.2% for the eurozone, according to Eurostat. 

Both figures remained at a historic low for the fourth month in a row, despite the weakness of the eurozone economy. The region's GDP remained stable in the three months to 31 December, compared with the previous quarter. 

The number of people out of work totalled 12.824 million in the EU. Compared with the previous month, 8,000 fewer individuals were jobless. In the eurozone 42,000 people became employed compared to the previous month, thus lowering the number of unemployed to 10.765m in January 2025.

Unemployment among the under 25s remained stable at 14.6% in the EU, meaning that around 2.9m young people were out of a job. In the eurozone, the youth unemployment rate was 14.1%, down from 14.2% in the previous month.

The unemployment rates by sex also remained unchanged in the EU and in the eurozone. The rate of men in the EU without a job came in at 5.6%, and for women, it was 6%. In the eurozone, it was 6% and 6.4%, respectively.

The unemployment rate in Spain, the highest in the EU, started declining over the month. The rate came in at 10.4% for January, after 10.6% in December 2024. 

The trend may continue, according to a separate dataset released by the country’s Ministry of Labour and Social Economy. Figures showed that unemployment fell by 5,994 people in February to 2,593,449, the lowest figure seen in 17 years for this month. Analysts had expected an increase of 45,200 people. 

Countries with the lowest unemployment rates are the Czech Republic and Poland, both registering a 2.6% total in January. 

In light of the eurozone’s stuttering economy, analysts are increasingly expecting unemployment rates to