At the close of 2024, Europe’s labour market reached levels unseen in decades. According to the latest OECD data, the employment rate within the European Union climbed to a record 70.9% in the fourth quarter—the highest since the organisation began tracking such data in 2005.
Eight EU member states reported their highest-ever employment figures, underscoring the continent’s robust labour market performance. The Netherlands led the EU pack with an employment rate of 82.3%, while Italy lagged behind at 62.2%.
Beyond the EU, Iceland topped the broader European region, including selected EU candidates, EFTA nations, and the UK, with an employment rate of 85.6%. Turkey, by contrast, trailed significantly at just 55.2%.
In Europe’s five largest economies, Germany stood out with an employment rate of 77.6%. The United Kingdom followed at 75%, comfortably above the EU average. France, however, fell short at 68.9%, below both the EU and OECD averages. Spain and Italy, at 66.3% and 62.2% respectively, joined Greece and Turkey among the lowest performers in the dataset.
Meanwhile, unemployment in the EU dropped to its lowest point since 2000, reaching a record low in February 2025. This decline indicates fewer Europeans are jobless, reflecting sustained economic resilience despite global uncertainties.
These buoyant employment figures and declining unemployment rates suggest a European labour market that remains resilient, even amid broader economic challenges. Yet, disparities persist, highlighting the uneven distribution of economic gains across the continent.
Download the EU labor market situation statistical report