Eurostat, the statistical office of the European Union (EU), announced on Wednesday the unemployment rate in the euro area dropped to 7.6 percent in July from an upwardly revised 7.8 percent in June (originally 7.7 percent). That was the lowest rate since May 2020 and in line with economists’ forecast.

At the same time, the EU27 unemployment rate fell to 6.9 percent in July from 7.1 percent in June.

Among the Member States, the highest unemployment rates were observed in Greece (14.6 percent), Spain (14.3 percent) and Italy (9.3 percent), while Czechia (2.8 percent), Netherlands (3.1 percent) and Malta (3.3 percent) had the lowest unemployment rates.