News Column

Eurozone Unemployment Reaches Record High of 12.2 Percent

May 31, 2013

Unemployment in the crisis-plagued eurozone continued to rise in April, reaching 12.2 per cent - the highest figure since the launch of the euro - according to data released Friday.

The jobless ranks have swelled relentlessly since mid-2011. The latest 0.1-per-cent increase was in line with analysts' expectations.

April saw a further 95,000 people join those out of work in the eurozone, bringing the total to almost 19.4 million, according to the European Union's statistics agency Eurostat. That was 1.64 million more than a year earlier.

The figures include 3.6 million people aged below 25, bringing youth unemployment in the eurozone to 24.4 per cent.

Greece and Spain continued to be the worst affected, with Athens posting an overall jobless rate of 27 per cent in February - its most recent figures - and Madrid registering 26.8 per cent in April.

Youth unemployment rose to 62.5 in Greece and 56.4 per cent in Spain.

In stark contrast, Austria posted the lowest overall jobless rate at 4.9 per cent, followed by 5.4 per cent in Germany. In Austria, 8 per cent of those aged under 25 were out of work, while the figure for Germany was 7.5 per cent.

In the wider 27-member EU, the unemployment rate inched up to 11 per cent in April, with another 104,000 joining the jobless. This brought the total to 26.6 million.

Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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