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Eurozone unemployment hits fresh high
Posted By kurtnimmoadmin On July 1, 2013 @ 5:19 pm In Economic Crisis | Comments Disabled
Graeme Wearden and Katie Allen
July 1, 2013
The unemployment rate across the eurozone hit a fresh record in May, as the recession continued to affect workers around the region and young people again suffered most.
The eurozone jobless rate rose to 12.1% in May, up from 12.0% in April, according to EU statistics office Eurostat. The youth unemployment rate was almost double that, at 23.8%, as 3.5 million under-25s were unemployed in May. In Spain and Greece the youth unemployment rate was as high as one in two.
The rise in unemployment was driven by increased joblessness in countries at the heart of the crisis, including Spain, Italy and Ireland. As the eurozone languishes in its longest-ever recession, the number of people out of work across the currency bloc rose by 67,000 in May to 19.2 million.
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