Tuesday, July 31, 2012


Eurostat, the EU's statistics office, said 17.801 million people were out of work in the eurozone in June. That was 123,000 more than May, and is the highest level since the euro was formed in 1999. The increase was the 14th in a row and means that around 2.25 million people have lost their jobs since April 2011.

Despite the increase, the seasonally adjusted unemployment rate in June was unchanged at a record 11.2 percent. Without Germany's relatively-low unemployment rate of 5.4 percent, the wider figures would be much worse.

It's particularly grim in Spain, which is at the forefront of Europe's debt crisis concerns. It had the highest unemployment rate across the eurozone of 24.8 percent. Greece's rate was not far behind at 22.5 percent, though the latest figures available are for April. In Greece and Spain, every other person aged under 25 is unemployed.

Many countries that use the euro, including France and Italy, also have double-digit unemployment rates.

Eurozone unemployment at record high in June (Yahoo!)

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.