Don't miss

Replay


LATEST SHOWS

THE INTERVIEW

Rwandan president claims 'no problem with France'

Read more

EYE ON AFRICA

Paul Kagame visits UNESCO HQ in Paris

Read more

MEDIAWATCH

Flamboyant US Congressman's Instagram Lands Him in Bother

Read more

THE WORLD THIS WEEK

Compromise buys Greece time and Jihadi John is unmasked (part 2)

Read more

THE WORLD THIS WEEK

Compromise buys Greece time and Jihadi John is unmasked (part 1)

Read more

#TECH 24

Drone vs. drone

Read more

FRANCE IN FOCUS

The future of agriculture

Read more

REVISITED

Yalta, the symbol of a new Cold War?

Read more

#THE 51%

Women in the workforce: IMF says closing the gender gap makes economic sense

Read more

Business

Eurozone jobless rate hits new record

© AFP

Text by News Wires

Latest update : 2013-01-08

The eurozone’s official unemployment rate reached a record high of 11.8 percent in November, official data revealed on Tuesday, with the number of jobless in the 17-state currency area currently nudging 19 million.

The unemployment rate across the troubled eurozone rose to a record 11.8 percent in November, European Union data showed on Tuesday.

Up from 11.7 percent in October, the number of people out of work in the 17-state currency area, home to some 330 million people, is now nudging 19 million -- an increase of more than two million on the dole compared to the level one year earlier.

While the jobless numbers exceeded 26 million for the first time across the full European Union, which includes Britain and Poland, the gap is growing between the eurozone and its outer EU neighbours, with the EU as a whole recording an unchanged 10.7-percent unemployment rate.

There were more jobless over the past year, according to Eurostat data, in the eurozone -- where the number of unemployed was 2.015 million claimants compared to 2.012 million for the 27-state EU.

Facing a bust property boom and riddled with bad debt in its banks, Spain recorded the highest unemployment rate of all the European countries -- at 26.6 percent, worse even than Greece.

Among under-25s, both countries saw unemployment rates hovering around 57 percent.

According to Eurostat figures seasonally-adjusted for comparative purposes, the November unemployment rate in key rival economies was 7.8 percent for the United States and 4.1 percent for Japan.

(AFP)

Date created : 2013-01-08

  • FRANCE

    Outlook bleak as Hollande hails 2013 'battle for jobs'

    Read more

  • EUROZONE

    Eurozone jobless rate hits new record of 11.7 percent

    Read more

  • EUROZONE

    Eurozone unemployment hits record 11.6 percent

    Read more

COMMENT(S)