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.Stay updated on market-moving Economic Events that impact Commodities, Stock, and Forex using the real-time FXco Economic Calendar this week.The material has been provided by InstaForex Company – www.instaforex.com
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