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Financial News: Eurozone Jobless Rate Rises In July

Eurozone Jobless Rate Rises In July

09/01/2020 - 05:28:00 (RTTNews)

(RTTNews) - The euro area unemployment rate continued to increase in July despite some relaxation of covid-19 containment measures, data from Eurostat revealed Tuesday.

The jobless rate rose to 7.9 percent in July from 7.7 percent in June. However, the rate was marginally below the expected level of 8 percent.

The number of people out of work increased by 344,000 from June to 12.793 million in July.

Data showed that the unemployment rate among youth aged below 25 rose slightly to 17.3 percent from 17.2 percent in June.

The jobless rate in the EU27 rose marginally to 7.2 percent from 7.1 percent in the previous month.

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