Eurozone Jobless Rate Ticks Up to 6.3 Percent in August
(MENAFN) The eurozone's unemployment rate ticked up to 6.3% in August from 6.2% in July, according to Eurostat on Thursday, narrowly missing forecasts that had predicted no change.
Meanwhile, across the broader European Union, the jobless rate remained steady at 5.9%.
Eurostat reported that 13.09 million individuals were unemployed throughout the EU in August, with 10.84 million of those in the eurozone. This represents an increase of 39,000 unemployed persons in the EU and 11,000 in the euro area compared to July.
Youth unemployment continues to pose challenges. Approximately 2.82 million people aged 25 and under were out of work across the EU, including 2.22 million in the eurozone. The youth unemployment rate climbed to 14.6% in the EU, up from 14.4% in July, while it remained steady at 14% within the eurozone.
Among member states, Spain recorded the highest unemployment rate at 10.3%, while Malta and Slovenia reported the lowest rates at 2.9% each.
The eurozone, also known as EA20, comprises EU countries that have adopted the euro as their currency.
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