Employment Statistics in Europe in 2022 [Powerful Information]

About two years into the pandemic, Europe faced a severe case of recession and unemployment. However, with the sustained use of job retention schemes and reforming economic policies, much of the continent is now on its path to recovery. This recovery, however, is uneven across the region. It includes underlying factors such as digitalization, inflation and automation.

This article will provide a thorough insight into how employment trends have varied in Europe and where they stand today.

Employment Statistics in Europe in 2022

Key Employment Statistics for Europe

According to an article by the IMF European Department, unemployment in the EU declined to 6.2% in early 2022.

The same article mentions the introduction of job retention schemes to reduce the rate of unemployment in the euro area. The unemployment rate is 2.5% lower than it would have been without these schemes.

A news release by OECD states that in the OECD area, the unemployment rate amongst the youth fell to 13.9% in January 2022 (from 14.2% in December 2021) and will decline further. The OECD is a 38-member intergovernmental organization consisting primarily of European nations.

According to Eurostat, the job vacancies in the EU were 2.9% in Q1 2022.

A research paper was published by Trading Economics and sourced by Eurostat. According to the paper, 196,051 thousand people in the EU were employed in March 2022. This figure decreased from 195,503 thousand in February.

The same paper mentions that 13,066 thousand people were unemployed in the EU in May 2022. This is a decrease from 13,139 thousand in April.

According to European Union News published on Europe Sting, the updated labor rights guarantee more transparent working conditions for European workers. They have also been granted the right to know about key decisions, complete details about their jobs, and limited probationary periods.

How Many People are Unemployed in the EU?

According to a study by Eurostat, the EU unemployment rate in March 2022 was 6.2%.

The study provides figures obtained from Eurostat’s statistical office in the EU, showing that 13,374 thousand people were jobless. 2579 thousand of these people were under 25 years of age.

Germany

2.9% of the labor force in Germany were jobless, whereas 5.5% of them were under 25. (Eurostat)

According to the Federal Statistical Office of Germany, the adjusted unemployment rate was 2.9% in March 2022. Based on the labor force survey, 1.26 million people were unemployed in March 2022, a decline of 435,000 (25.7%) compared to March 2021.

France

7.4% of the labor force in France were unemployed, whereas 16.3% of them were under 25. (Eurostat)

Based on data provided by Insee, according to the Labour Force Survey, the unemployment rate in France is stable at 7.3% in Q1 2022. So data by Eurostat and Insee are similar.

Furthermore, Statista shows that Northern France, the Occitanic region, and the Hauts-de-France region had the highest unemployment rate among all French metropolitan regions. It soared to 8.7%, compared to 5.8% in Bretagne.

Italy

8.3% of the labor force in Italy were jobless, whereas 24.5% of them were under 25. (Eurostat)

Similarly, according to CEIC Data, the unemployment rate in Italy dropped to 8.14% in May 2022, from 8.28% in Apr 2022.

Forecasts from Statista predict that this rate will drop to 9.9% in 2022 from a previous figure of 10.2 in May 2021.

Spain

13.5% of the labor force in Spain were jobless, whereas 29.6% of them were under 25. (Eurostat)

Conforming to predictive data from Focus Economists, the unemployment rate will be an average of 14.4% in 2022 and 13.5% in 2023.

Netherlands

3.3% of the labor force in the Netherlands were jobless, whereas 7.1% of them were under 25. (Eurostat)

Statistics Netherlands (CBS) noted an increase in unemployment at 323 thousand (3.3%) in May 2022, slightly higher than in April 2022, when the unemployed labor force accounted for 3.2%.

Concurrently, the growth in the employment rate is expected to fall further by 2023. Using research from ING, Staffing Industry Analysts measure the current growth as 4%, lower than the 7% in 2021. The reason is the risk of global recession paired with staff shortages.

Sweden

7.6% of the labor force in Sweden were jobless, whereas 22.3% of them were under 25. (Eurostat)

Based on CEIC Data’s evidence, Sweden’s unemployment rate was 7.66% in May 2022, a decline from the previously reported figure of 7.69% in April 2022.

Which European Country Has the Highest Job Opportunities?

According to data published on Statista on June 20, 2022, the overall job vacancy percentage in the EU27 was 2.9%.

The Czech Republic has the highest job vacancy rate at 5.3% among the European countries. The Netherlands follows this figure at 4.9%. The list of the top 10 countries in terms of job vacancies in Europe is as follows:

Czechia – 5.3%
Netherlands – 4.9%
Belgium – 4.8%
Austria – 4.7%
Germany – 4.1%
Finland – 3.6%
Denmark – 3.6%
Sweden – 3.6%
Norway – 3.5%
Cyprus – 3.2%

What are the Most In-demand Jobs in Europe?

CEDEFOP published a forecast report about the most in-demand jobs in the EU.

The average employment growth (% change) during 2020-2030 is 1.2%. The minimum growth for an individual European country is -11.9 for Bulgaria, while the maximum is 23.6 for Cyprus. Along with Cyprus, Ireland is also one of the leading nations in this regard, with a forecast of 17.9% growth.

Professionals account for the highest growth of 10.8%, closely followed by managerial positions at 9.9%.

The growth rate for other positions includes

Farm and related workers at -21.5%.
Trade Workers at -2.9%.
Clerks at -2.2%.

The report also categorizes employment growth sector-wise in the EU for 2020-2030, as mentioned below:

The report estimates a growth of 11.9% in the ICT Services Sector alone. The maximum is 35.9% for Greece, whereas Sweden is at the lowest of -6%.
The growth in the Education Sector is at 8.5%, with individual national growth levels of Cyprus at 35.2% and Slovenia at -7.3%.
The growth in the Finance and Insurance Sector is at 5.8%. Romania leads at 23.6%, while Belgium is at -10.8%.
The growth in the Non-Marketed Service Sector is at 8.9%. The maximum is 24.1% for Romania, and the minimum is -5.9% for Lithuania.
The growth in the Manufacturing Sector is currently estimated at -1.3%. The maximum is 17.4% for Greece, and the minimum is -20.5% for Lithuania.

The report also provides a significant comparison of the employment growth rate country-wise. The highest is that of Cyprus, followed by Ireland, Luxembourg, Portugal, and Austria.

Cyprus

Cyprus has an overall employment growth rate of 23.6%.

Major growth can be seen in the Professional Services sector at 42.1%. This is followed by Transport and Storage at 36.1%, and then Education at 35.2%.

Ireland

Ireland has an overall employment growth rate of 17.9%.

Major growth can be seen in the Construction Work sector at 56.0%. Health and Social Care follow this at 33.2%, and then Professional Services at 30.3%.

Luxembourg

Luxembourg has an overall employment growth rate of 17.6%.

Major growth can be seen in the Administrative Services sector at 31.7%. Professional Services follow this at 28.7%, and then Education at 27.8%.

Portugal

Portugal has an overall employment growth rate of 9.4%.

Major growth can be seen in the Administrative Services sector at 36.1%. ICT Services follow this at 24.0%, and then Accommodation and Food at 15.3%.

Austria

Austria has an overall employment growth rate of 8.4%.

Major growth can be seen in the Public Sector and Defense at 17.2%. This is followed by Accommodation and Food at 16.9%, and then Education at 16.7%.

Netherlands

A survey by the Global Talent Bureau, cited by the NL Alumni Network, provides statistics about jobs in demand in Europe today. The Netherlands has the second highest demand for engineers globally, with about 13% of all job advertisements in the engineering sector.

An article by Visa Intelligence Consultancy on Linkedin in December 2021 also lists high-paying jobs in the Netherlands. Some of them, along with their average salaries, include:

Researcher (Clinical chemistry) starting at €210,000
Pilot starting at €155,280
Commercial Director starting at €127,920
Neurosurgeons start at €99,960
Dermatologists start at €99,960