9 Jan 2013

EZ jobless numbers now higher

6:03 am on 9 January 2013

Unemployment in the eurozone is at a new record high.

Eurostat, the official European statistics agency said the unemployment rate was 11.8% in November. The number of people without work in the 17 nations reached 18.8 million

Spain again recorded the highest unemployment rate, 26.6%. Greece had the second-highest unemployment rate in November, at 20%

More than 26 million people are now unemployed across the EU.

The BBC reports youth unemployment rate was 24.4% in the eurozone, and 23.7% in the European Union. Unemployment among people under 25 was highest in Greece (57.6%), followed by Spain (56.5%).

Overall unemployment was lowest in Austria (4.5%), Luxembourg (5.1%) and Germany (5.4%).

However, European Commission President Jose Manuel Barroso said on Monday that he believed the worst was over.