EU Employment Rate Rises Slightly in Q3 2024

The employment rate for individuals aged 20-64 in the European Union reached 75.9% in the third quarter of 2024, marking a modest increase of 0.1 percentage points compared to the previous quarter. This data reflects a steady upward trend in job growth across the region.

Simultaneously, labour market slack—defined as the proportion of the extended labour force with unmet employment needs, including the unemployed—declined to 10.9%. This figure represents a 0.1 percentage point decrease from the second quarter of the year, highlighting slight improvements in addressing employment gaps.

Malta recorded the most significant employment growth among EU countries, with an increase of 1.4 percentage points. Other notable improvements were seen in Romania (+0.6 pp), as well as Ireland, Italy, and Cyprus (each +0.5 pp).

In contrast, the employment rate remained stable in Latvia and the Netherlands but decreased in 15 member states. Luxembourg, Slovenia, and Estonia experienced the largest declines, with drops of 1.0, 0.9, and 0.7 percentage points, respectively.

The findings were published by Eurostat, offering a glimpse into the broader labour market dynamics within the EU.