Sunday, Dec 04, 2022

Eurozone jobless rate at record high

The 11.3 percent unemployment rate is the highest since the euro was formed in 1999.

Official figures show that the unemployment rate across the 17 countries that use the euro remained at a record high of 11.3 per cent in July,the same as in June but up 1.2 points from a year earlier.

The data published today by the European Union’s statistical agency,Eurostat,show the financial crisis continues to hurt the economy,with the jobless rate continuing to creep higher to record levels in Spain and Greece.

Even though the eurozone’s overall percentage remained stable,Eurostat said some 88,000 more people were without a job in July,for a total of 18 million.

The 11.3 percent unemployment rate is the highest since the euro was formed in 1999.

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First published on: 31-08-2012 at 08:55:37 pm
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