Euro area unemployment rate dropped for a second month in a row in June to hit its lowest level in over a year, preliminary data from the statistical office Eurostat showed Friday.
The unemployment rate dropped to 7.7 percent from 8.0 percent in May. The rate was expected to remain unchanged at May’s original 7.9 percent.
The jobless rate was the lowest since May 2020, when it was 7.5 percent.
For the EU, the unemployment rate fell to 7.1 percent from 7.3 percent in the previous month.
The number of unemployed in the EU totaled 14.916 million persons in June, of whom 12.517 million persons were in the euro area.
The Eurozone figure fell by 423,000 from the previous month and that for the EU decreased by 487,000 persons.
The youth unemployment rate, which applies to those under 25, fell to 17.3 percent in the euro area from 17.9 percent in the previous month. The corresponding rate for the EU dropped to 17.0 percent from 17.6 percent.
The number of unemployed among the youth totaled 2.967 million in the EU, of whom 2.431 million were in the euro area. The figure fell by 78,000 persons from the previous month in Eurozone and by 112,000 persons in the EU.