Eurozone unemployment steady at 6.4% in July

The jobless rate in the Eurozone held stable at 6.4% in July, according to figures out Thursday from Eurostat.

As expected by economistss, the seasonally-adjusted unemployment rate was 6.4% last month – in line with June and down from 6.7% in July 2022.

Some 10.944m people in the euro area were registered as unemployed in July, a 73,000 increase over the month. Eurostat said that 2.206m of these were aged under 25, leaving the youth jobless rate at 13.8%.

In the wider European Union, the unemployment rate was also stable, at 5.9% – equivalent to 12.928m people without a job.

Greece and Spain continued to experience the highest levels of joblessness, with rates at 10.8% and 11.6% in July, respectively – though both were down slightly on the previous month. The youth unemployment rate for each was 23.2% at 27%, respectively.

Meanwhile, Czech Republic and Malta registered the lowest levels, at 2.7% and 2.5%, with youth unemployment at 9.8% and 8.1%, respectively.