Euro area unemployment edges past forecasts in June, drops in France and Ireland

Euro area unemployment edged past forecasts last month led by increases in several of its larger economies, although in France and Ireland it fell while in Germany it remained low.

According to Eurostat, in seasonally adjusted terms the rate of unemployment in Italy jumped from 8.3% to 8.8% and in Spain from 15.4% to 15.6%.

The Netherlands fared worse, albeit with joblessness rising from an historically low level of 3.6% to 4.3%.

In Germany meanwhile, the rate of unemployment edged up from 4.1% to 4.2% and in Belgium from 5.4% to 5.5%.

France on the other hand saw unemployment drop from 8.2% to 7.7% and Ireland from 5.6% to 5.3%.