Euro area Unemployment Rate stays unchanged at 6.8% in April vs. 6.7% expected

• Unemployment Rate in the euro area remained steady at 6.8% in April.
• EUR/USD continues to fluctuate in a tight range above 1.0700.

The monthly data published by Eurostat showed on Wednesday that the Unemployment Rate in the euro area and the EU stayed unchanged at 6.8% and 6.2%, respectively, in April. Markets were expecting the euro area Unemployment Rate to edge lower to 6.7%.

"Eurostat estimates that 13.264 million men and women in the EU, of whom 11.181 million in the euro area, were unemployed in April 2022," the publication further read. "Compared with April 2021, unemployment decreased by 2.543 million in the EU and by 2.175 million in the euro area."

Market reaction

The EUR/USD pair showed no immediate reaction to this report and was last seen losing 0.12% on the day at 1.0720.