The EU employment rate reached its highest level on record in the fourth quarter of 2024, according to new data from the OECD.

Eight EU member states also recorded all-time highs during this period, dating back to when the OECD first began publishing data in 2005.

On the flip side, the unemployment rate fell to its lowest level in February 2025 since 2000, showing that fewer people in the EU are without a job.

That’s also according to the latest labour statistics from the OECD, which run up to February for the unemployment indicator.

The EU employment rate stood at 70.9% in the final three months of 2024. Among the 24 EU member states included in the dataset, employment rates ranged from 62.2% in Italy to 82.3% in the Netherlands.

When including selected EU candidate countries, along with EFTA members and the UK, 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 UK at 75%.

France’s employment rate in the final quarter of 2024 stood at 68.9%, falling below both the EU and OECD averages. Spain (66.3%) and Italy (62.2%) were among the four lowest in the dataset, alongside Greece and Turkey.

EU and 8 members hit the record in employment

Eight EU member states and candidate country Turkey all recorded their highest employment rates in the final quarter of 2024 — and the EU average also saw a record peak. The rates look at individuals aged 15–64 and are seasonally adjusted.

Record breaking countries include Germany, Czechia, Portugal, Slovakia, Belgium, Spain, Greece and Turkey — even though some saw only marginal increases.

The Netherlands holds the EU’s only rate above 80%

Among the 24 EU member states listed (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 surpassed the 80% mark during this period.

However, if the 20–64 age group is considered — as used by Eurostat — more countries may exceed the 80% threshold.

The largest year-on-year increases in employment rates were observed in Iceland (up 1.6 percentage points) and Greece (up 1.5 percentage points). The OECD attributed these gains to rising labour force participation.

EU unemployment rate falls to its lowest level in February 2025

According to the OECD, the EU unemployment rate fell to 5.7% in February 2025 — its lowest level since January 2000. The data covers individuals aged 15–64 and is seasonally adjusted.

Among the 24 EU member states, unemployment rates ranged from 2.6% in Poland to 10.4% in Spain — the only country to exceed the 10% mark.

Two Nordic countries report high unemployment rates

Among all countries in the dataset, Finland (9.2%) and Sweden (8.9%) had the highest unemployment rates after Spain, which topped the list.

Germany (3.5%) recorded the fourth-lowest unemployment rate overall, making it the best performer among Europe’s five largest economies, followed by the UK at 4.4% (based on January 2025 data).

Alongside Spain, France (7.4%) and Italy (5.9%) also recorded unemployment rates above the EU average.