Eurozone unemployment rate fell to record low of 6.4% in July

Aug. 30 () –

The unemployment rate in the Eurozone stood at 6.4% in July, one-tenth of a percentage point below the figure for June and its lowest level since the beginning of the series in 1999, while in the EU as a whole the figure remained stable at 6% for the fifth consecutive month, also its lowest level since records began, according to data published by Eurostat.

The European statistical office estimates that 13.10 million people were out of work in the EU in July, of whom 10.99 million were in the euro zone.

This represents a monthly decrease of 82,000 unemployed in the EU and 114,000 in the euro area, while compared to July 2023, unemployment decreased by 72,000 people in the EU and by 190,000 people in the euro area.

According to Eurostat data, the highest unemployment rates in July among the 27 countries were in Spain, with 11.5%; Greece, with 9.9%; and Finland, with 8.4%. In contrast, the lowest unemployment figures were in the Czech Republic, with 2.7%; Poland, with 2.9%; and Malta, with 3%.

For those under 25, the unemployment rate in the Eurozone stood at 14.2% in July, two-tenths of a percentage point lower than the previous month, while in the EU as a whole it was 14.5%, one-tenth of a percentage point lower.

In absolute terms, the number of unemployed young people in the EU reached 2.81 million in the seventh month of the year, of which 2.26 million were in the eurozone.

In the case of Spain, in July 2024 there were 2.81 million unemployed people, of whom 460,000 were under 25 years of age.

The youth unemployment rate in Spain was thus 25.5%, the highest among the 27 countries, ahead of Sweden’s 24.4% and Estonia’s 22.8%.