The labor market in the eurozone countries showed positive trends in June

The state of the labor market in the eurozone countries in June shows positive trends, as the unemployment rate fell to a record low amid weak economic growth. This information was released by Eurostat on Tuesday, according to a report by Yevropeiska Pravda.

According to the European Union's statistical office, the unemployment rate in the eurozone last month was 6.4%. This figure was lower than economists had predicted.

In absolute terms, the number of unemployed in the eurozone decreased to just over 10.8 million people, which is 62 thousand less than in the previous month.

In the EU as a whole, the unemployment rate also fell to 5.9% compared to 6.1% in May. However, among young people, unemployment in the EU increased slightly, while in the euro area it decreased.

Economists quoted by the Financial Times pointed to a decline in job openings in Germany and France in July and warned that the eurozone labor market could weaken due to the expected economic downturn by the end of the year.

Significantly, despite the record low unemployment rate, the number of working hours is still lower than before the COVID-19 pandemic and productivity growth is extremely weak.

At a previous stage, Eurostat reported that inflation in the euro area continued to decline for the second month in a row due to falling energy prices and reached its lowest level since the start of Russia's full-scale war against Ukraine.