In 2023, the unemployment rate for individuals aged 15-74 in the European Union dropped to 6.1% of the labor force, marking the lowest level since 2014, according to the EU statistics agency, Eurostat, on November 8.
The long-term unemployment rate, as a percentage of the labor force, was 2.1% in 2023, representing a historic low since the beginning of the data series in 2009.
Among EU member states, Greece stood out with the highest long-term unemployment rate at 6.2%, followed by Spain (4.3%) and Italy (4.2%).
On the opposite end, Denmark and the Netherlands recorded rates of 0.5%, ahead of Czechia, Malta, and Poland, each at 0.8%.
For young people aged 15-29, the unemployment ratio stood at 6.3% of the total population in this age group. Looking at the long-term trend, this figure reached its lowest level across the entire available data series, Eurostat reported.
The situation varied significantly across EU countries. Sweden reported the highest youth unemployment rate at 10.9%, followed by Spain (10.8%) and Greece (9.8%), while the lowest rates were observed in Czechia (2.4%), Bulgaria (3.2%), and Germany (3.3%).
