Eurozone jobless rate hits record 11%

Eurozone unemployment has hit a fresh euro-era record, increasing the pressure on policymakers to launch economic growth-boosting measures.

Joblessness in the 17-country region was 11 per cent in April – the highest since the launch of Europe’s monetary union in 1999, according to Eurostat, the European Union’s statistical office.

Spain again saw by far the worst unemployment performance, with its rate rising to 24.3 per cent in April. Among Spain’s under-25s, the jobless rate rose to 51.5 per cent. By contrast, German unemployment fell further – to only 5.4 per cent of the workforce.

Read Full Article from Financial Times

- Posted: 2012-06-01 11:32:46

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