Eurozone unemployment hits record 12%

Written By Unknown on Selasa, 02 April 2013 | 18.16

EUROZONE unemployment ran at a record 12 per cent in February, with more than 19 million people on the dole as the debt crisis continued to sap the economy, official data shows.

The Eurostat data agency said on Tuesday unemployment in the 17-nation eurozone at 12 per cent was unchanged from January when the figure was initially given as 11.9 per cent.

In the full 27-member EU, unemployment in February rose to 10.9 per cent from 10.8 per cent, with 26.34 million out of work, it said.

Some 33,000 joined the jobless queues in the eurozone and 76,000 in the EU over the month of February, Eurostat said.

Compared with a year earlier, the increase in registered unemployment was 1.78 million in the eurozone and 1.81 million in the EU.

The highest unemployment rates in February were found in Spain with 26.3 per cent and neighbour Portugal, on 17.5 per cent. Greece was put at it 26.4 per cent but this figure is for December, the latest available.

The lowest rates were 4.8 per cent in Austria and 5.4 per cent in Germany, Europe's biggest economy.

With youth unemployment a huge cause of concern, Eurostat said the jobless rate for under-25s ran at 23.9 per cent in the eurozone and 23.5 per cent in the EU.

Among the countries with the highest youth jobless levels, Spain was on 55.7 per cent, followed by Portugal on 38.2 per cent and Italy with 37.8 per cent.

Greece was the highest with 58.4 per cent but this figure was for December, the last available.


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