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Eurozone unemployment hits record high and reveals two-speed Europe

Matthew Sparkes
London Telegraph [1]
Oct 1, 2012

The eurozone unemployment rate was 11.4pc in August, up from 10.2pc last year. Data from the EU statistics agency Eurostat [2] estimated that 25.5m men and women were out of work over the period, 18.2m of whom were in the eurozone.

Compared with the previous month the number of unemployed people in the EU rose by 49,000 and in the eurozone by 34,000.

The overall unemployment rate in Spain has reached 25.1pc, while the latest data from Greece for June shows a figure of 24.4pc. The outlook is far more optimistic in Germany, however, where just 5.5pc of people are out of work.

Youth unemployment in the eurozone is stable at 22.8pc, down slightly from 22.9pc during July, but up from 20.7pc year-on-year.

Full article here [1]