Unemployment rate continues to fall in the euro zone

Unemployment rate continues to fall in the euro zone
Credit: Belga / Bruno Fahy

The seasonally adjusted unemployment rate stood at 6.4% in the eurozone in August, slightly down from 6.5% last July and 6.7% in August 2022, the European Union's statistical office (Eurostat) reported on Monday.

The indicator is at its lowest historical level since the European office began compiling the data in April 1998.

The unemployment rate in the EU, meanwhile, reached 5.9% last month, compared with 6.0% in July. According to Eurostat statistics, 12.837 million people were unemployed in the EU in August, including 10.856 million in the eurozone. Compared with July, unemployment was down by some 112,000 in the EU and 107,000 in the eurozone.

The highest unemployment rates were seen in Spain (11.5%) and Greece (10.9%). Belgium's rate, meanwhile, was just 5.5%.

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