How to read it
Higher vacancies and lower unemployment indicate a tighter labor market. The tightness score combines both measures.
Benchmark · quarterly · percentile
European Beveridge curve
Are European labor markets becoming tighter or looser?
European Beveridge curve tracks job vacancies and unemployment with a percentile tightness score. It uses quarterly data.
European Beveridge curve tracks job vacancies and unemployment with a percentile tightness score. It uses quarterly data.
- Vacancy rate
- 2.2%
- Unemployment rate
- 6.2%
- Quarterly vacancy change
- 0.0 pp
- from 2.2
- Quarterly unemployment change
- −0.1 pp
- from 6.3
- Labor-tightness percentile
- 42nd
- of 61 readings · since 2010-12-31
European Beveridge curve
Vacancy rate
Unemployment rate
| Series | First | Latest | Min | Max |
|---|---|---|---|---|
| Vacancy rate | 1.40 | 2.20 | 1.30 | 3.30 |
| Unemployment rate | 10.10 | 6.20 | 6.10 | 12.60 |
How this is calculated
Job vacancies and unemployment with a percentile tightness scorePIER20 calculates this benchmark from official observations from Eurostat. The formula is job vacancies and unemployment with a percentile tightness score. The source table lists each selector and source link.
The latest data is from Q4 2025. The Vacancy rate reading is 2.20%. The Unemployment rate reading is 6.20%. The Labor tightness reading is 69.51 index (0–100). The Vacancy rate line is down 0.3 pp over the past year. It is above its long-run median of 2.00%.
How to read it
How this benchmark is used
Why traders watch it
Rates and equity traders use this benchmark to track European labor-market tightness.
Frequently asked questions
4 answersWhat is the latest reading for European Beveridge curve?
The latest data is from Q4 2025. The Vacancy rate reading is 2.20%. The Unemployment rate reading is 6.20%. The Labor tightness reading is 69.51 index (0–100). The Vacancy rate line is down 0.3 pp over the past year. It is above its long-run median of 2.00%.
How often does this benchmark update?
The source publishes quarterly data. PIER20 updates the page after each new observation. The chart shows the data date and fetch date.
What data sources does this chart use?
Eurostat publishes the data. The methodology section lists each source series.
Where does the data come from?
Eurostat publishes the source data. The source table lists each series and its exact link.