02.10.202311:13:00UTC+00Eurozone Unemployment Rate Drops In August

The euro area jobless rate dropped slightly in August despite weaker economic activity, data from Eurostat revealed on Monday.

The unemployment rate fell marginally to 6.4 percent in August from 6.5 percent in July. In the same period last year, the rate stood at 6.7 percent.

The rate matched a record low seen in June and also in line with expectations.

Data showed that unemployment decreased by 107,000 from July to 10.856 million. Compared to last year, unemployment fell by 407,000.

The youth unemployment rate eased slightly in August. The rate was 13.8 percent compared to 13.9 percent in the previous month.

The overall unemployment rate in the EU27 also eased marginally in August. The jobless rate came in at 5.9 percent, down from 6.0 percent in July.