Eurozone unemployment rate steady in July, misses expectations

The eurozone unemployment rate was unchanged in July, according to the latest figures from Eurostat, missing analysts’ expectations.

The unemployment rate came in at 10.1%, steady compared to June and down from 10.8% in July last year. It fell short of analysts’ expectations for a nudge down to 10%.

Unemployment in the EU-28 group of countries was also stable compared to June at 8.6%, but down from 9.4% in July 2015. This remains the lowest rate recorded in the EU-28 since March 2009.

Among the member states, the lowest unemployment rates in June were recorded in Malta, the Czech Republic and Germany, while the highest rates were seen in Greece and Spain.