In Italy, unemployment jumped unexpectedly in July, hitting 7.6% following six months in a row of declines, according to preliminary data released Thursday.

Italy’s statistics agency Istat reported that over the course of the month, 73,000 jobs were lost, as unemployment rose for the first month since February.

A poll of economists by Reuters forecasted that the  unemployment rate would fall to 7.4%. In the same month last year, the reading came in at 8%.

The data showed that the Eurozone’s third-largest economy had 1.6% more citizens employed in July of this year than in July of 2022, with 362,000 more jobs in 2023.

In the three months leading up to July, unemployment was still 0.5% higher, compared to the February to April period.

Italy’s 61.3% employment rate is one of the lowest in the euro area, according to the data. However among young people between the ages of 15 and 24 there was a month on month fall in the unemployment rate to 22.1%, compared to the 22.2% it registered at in June.

Italy’s GDP also decreased for the quarter by 0.3% over the April-June period, as the coming quarters were expected to show anemic results, due in part to the recent hikes of key interest rates.

The government’s official forecast is for full-year GDP to increase by 1% this year, compared with 2022’s more impressive 3.7% expansion in 2022.