Economy, Europe

Eurozone unemployment rate in July stable at record low

Number of unemployed surges 73,000 from prior month, reaching 10.9M in euro area

Tuba Ongun  | 31.08.2023 - Update : 31.08.2023
Eurozone unemployment rate in July stable at record low


The jobless rate in the euro area remained stable at a record low of 6.4% in July compared to the prior month, the EU's statistical office announced on Thursday.

The figure, meeting market forecasts, was down from 6.7% in July 2022, Eurostat data showed.

EU-wide unemployment, which includes countries that are in the bloc but don't use its common currency, also remained unchanged at 5.9% in July compared to June and was down from 6.1% a year earlier.

Some 12.9 million people in the EU, including 10.9 million in the euro area, were unemployed during the month.

The number of jobless jumped 35,000 in the 27-member bloc and 73,000 in the single currency zone, compared to June.

Youth unemployment came in at 13.9% in the EU and 14.2% in the euro area.

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