The unemployment rate in the euro area witnessed a slight decline in July, according to data released by Eurostat on Friday.
In July, the jobless rate fell to 6.4%, down from 6.5% in June. For the same period the previous year, the unemployment rate stood at 6.6%.
Analysts had anticipated the unemployment rate would remain steady at 6.5%.
The total number of unemployed individuals decreased by 114,000 from June, bringing the total to 10.99 million. Compared to July 2022, unemployment saw a reduction of 190,000.
Additionally, youth unemployment dropped slightly to 14.2% in July, from 14.4% in June.
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