EU unemployment rate drops in June

The European Union's unemployment rate was 6.3% in June, down from 6.8% the same month last year, the bloc’s statistical office said on Wednesday. According to Eurostat, the unemployment rate in the euro area (EA19) also fell to 7.5%, compared to 8.2% in June 2018. This is the lowest rate recorded in the euro area level since July 2008.

The number of jobless people fell by 1.2 million in the EU28 and 1.03 million in the EA19 in June from the same month last year.

The institute estimated that around 15.67 million people in the EU28 and 12.37 million people in the EA19 were unemployed as of June.

According to the data, the Czech Republic had the lowest unemployment rate in June with 1.9%. Germany followed with 3.1%.

The data also showed that Greece and Spain recorded the highest figures, with 17.6% and 14%, respectively.

In the last decade, the highest annual unemployment rate in the EU was seen in 2013 (10.9%). 

Youth unemployment rate -- under-25s -- fell in both the EU28 and EA19. The EU28 has 3.17 million young unemployed persons, of whom 2.25 million were in the EA19.

"In June 2019, the youth unemployment rate was 14.1% in the EU28 and 15.4% in the euro area, compared with 15.2% and 17%, respectively, on June 2018," Eurostat said.

Meanwhile, the preliminary flash estimate for July 2019 showed euro area annual inflation at 1.1% downed from 1.3% in the previous month, it said.

Another preliminary flash estimate showed that the GDP rose both in EU19 and EA28 by 1.1% and 1.3%, respectively, year on year, in the second quarter of 2019.