Eurozone jobless rate up at 11.7%
Source: Agencies |
December 1, 2012, Saturday
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Print Edition
Print Edition
ANOTHER month, another record jobless rate for the economy of the 17 European Union countries that use the euro.
Figures released yesterday by Eurostat, the EU's statistics office, showed that the recession in the eurozone pushed unemployment in the currency bloc up to 11.7 percent in October. The rise from the previous record of 11.6 percent in September was anticipated in light of the eurozone's return to recession in the third quarter, commonly defined as two consecutive quarters of negative growth. Eurostat found 18.7 million people were out of work across the eurozone, up 173,000 on the previous month. The wider 27-nation EU that includes non-euro countries such as Britain and Poland had a jobless rate of 10.7 percent and a total of 25.9 million out of work.
Figures released yesterday by Eurostat, the EU's statistics office, showed that the recession in the eurozone pushed unemployment in the currency bloc up to 11.7 percent in October. The rise from the previous record of 11.6 percent in September was anticipated in light of the eurozone's return to recession in the third quarter, commonly defined as two consecutive quarters of negative growth. Eurostat found 18.7 million people were out of work across the eurozone, up 173,000 on the previous month. The wider 27-nation EU that includes non-euro countries such as Britain and Poland had a jobless rate of 10.7 percent and a total of 25.9 million out of work.
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