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Europe

Eurozone unemployment hit record high in May

Text by NEWS WIRES

Latest update : 2013-07-01

Unemployment in the 17-nation eurozone rose 0.1% to hit a record high of 12.1% in May after April figures were revised downward, official Eurostat figures showed on Monday.

Official figures show unemployment across the 17 European Union countries that use the euro at another record high in May after revisions to back data.

Eurostat, the EU’s statistics office, says Monday that eurozone unemployment rose 0.1 percentage point in May to 12.1 percent. That’s a new record for the region as the previous months’ data were revised down, including April’s original 12.2 percent estimate.

Across the eurozone there were 19.22 million people unemployed, 67,000 up on the previous month. Figures next month will show whether the eurozone’s economy remained in recession during the second quarter of the year.

Elsewhere, Eurostat said inflation picked up to 1.6 percent in the year to June, up from 1.4 percent the previous month. The rate remains below the European Central Bank’s target.

(AP)

 

Date created : 2013-07-01

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    Eurozone unemployment reaches record 12.1 percent

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