Eurozone unemployment rises to 6.3pc in August

(Sharecast News) - Eurozone unemployment ticked higher in August, rising to 6.3% from a record low of 6.2% in July, according to Eurostat, defying expectations for a flat reading. The number of unemployed across the bloc rose by 11,000 month-on-month to 10.84m, with youth unemployment, covering those under 25, holding steady at 14.0%, matching July's revised figure and marking the lowest level since March 2023.

Among the largest economies, Spain, France, and Italy continued to post the highest jobless rates, while Germany and the Netherlands recorded the lowest.

The euro area unemployment rate was unchanged from last September's 6.3% reading, while across the wider EU, the jobless rate stood at 5.9%.

Despite signs of economic cooling in the eurozone following a tariff-driven export surge earlier in the year, Eurozone unemployment has remained historically low.

In its latest projections, the European Central Bank said it expects the labour market to remain resilient, forecasting an average unemployment rate of 6.3% in 2026, easing to 6.0% by the end of 2027.





Reporting by Iain Gilbert at Sharecast.com