According to Eurostat figures published Wednesday, the employment rate in Q4 2020 among 20- to 64-year-olds stood at 72.6%, or +0.03 percentage points (pp) compared to the previous quarter. Employment rose in 18 member states--with Estonia (+1.2pp) following Luxembourg’s lead--and decreased in just five, namely Slovakia and Belgium (both -0.3pp), Austria (-0.2pp), Hungary and Cyprus (both -0.1pp). 

Eurostat also points to the reduced labour market slack, “which comprises all people who have an unmet need for employment and of which one of the main components is unemployment”. In Q4 last year, this amounted to 13.7%--down from 14.1% the previous quarter--of the extended labour force, aged 20-64.