Eurozone unemployment rate rose to 6.5% in June, and the European Central Bank may continue to cut interest rates

According to Jinshi, the eurozone unemployment rate rose to 6.5% in June from 6.4% in April and May, indicating that the job market is losing momentum.

The ECB expects unemployment to average 6.5% in 2024 and 2025. A slight slowdown in the labor market will reassure policymakers who hope to cut interest rates again at their September meeting after an initial cut in June to boost economic activity.