EU employment hits record levels - Europe registers highest figures since 2005
The employment rate in the EU reached its highest level ever recorded in the fourth quarter of 2024, according to new data from the OECD (Organization for Economic Co-operation and Development).
Eight EU member states also recorded record levels during this period, dating back to when the OECD first began publishing data in 2005.
On the other hand, the unemployment rate fell to its lowest level in February 2025 since 2000, showing that fewer people in the EU are out of work. This is also according to the latest employment statistics from the OECD, which include the unemployment indicator up to February.
The EU employment rate stood at 70.9% in the last three months of 2024. Among the 24 EU member states included in the data, the figures ranged from 62.2% in Italy to 82.3% in the Netherlands.
When the bloc's candidate countries are included, along with EFTA members and the United Kingdom, Iceland recorded the highest employment rate at 85.6%, while Turkey had the lowest at 55.2%.
Among Europe's five largest economies, Germany recorded the highest employment rate at 77.6%, followed by the United Kingdom at 75%.
In the last quarter of 2024, employment in France registered a value of 68.9%, falling below the EU and OECD averages. Spain (66.3%) and Italy (62.2%) were among the four countries with the lowest figures, along with Greece and Turkey.
Eight EU member states and Turkey all recorded their highest employment rates in the last quarter of 2024. The EU average also hit a record high. The figures take into account individuals aged 15-64 and are seasonally adjusted.
Record-breaking countries include Germany, the Czech Republic, Portugal, Slovakia, Belgium, Spain, Greece and Turkey, although some saw only small increases. The Netherlands maintains the only EU rate above 80%.
Among the 24 EU member states (excluding Cyprus, Malta and Romania), the Netherlands is the only one to have recorded an employment rate exceeding 80% since 2005. Iceland and Switzerland also passed the 80% mark during this period.
However, if the 20-64 age group is considered, as used by Eurostat, more countries could exceed the 80% threshold.
The largest annual increases in rates were observed in Iceland (1.6 percentage points) and Greece (1.5 percentage points). The OECD explained that these increases were due to the expansion of the labor force.
According to the OECD, the unemployment rate in the EU fell to 5.7% in February 2025, the lowest level since January 2000. Among the 24 EU member states, unemployment rates ranged from 2.6% in Poland to 10.4% in Spain, the only country to cross the 10% mark.
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