Eurozone unemployment hits record 10.4 percent

By Agence France-Presse
Tuesday, January 31, 2012 7:14 EDT
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European currency Euro stands in front of the European Central Bank . Image via AFP.
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Eurozone unemployment hit a record 10.4 percent in November and December, provisional official figures showed on Tuesday.

The Eurostat data agency had previously estimated anunemployment rate of 10.3 percent in November but it was revised to 10.4 percent in its latest report.

The jobless rate has now remained at 10 percent or above for eight months in a row.

An estimated 16.469 million people were without jobs in the 17-nation monetary union in December, 20,000 more than in November, Eurostat said.

Spain was again the nation with the highest unemployment rate at 22.9 percent, the same figure as November. Greece came second with 19.2 percent.

Austria still has the lowest rate at 4.1 percent followed by the Netherlands at 4.9 percent and Luxembourg at 5.2 percent.

In Germany, Europe’s top economy, unemployment was stable at 5.5 percent. It rose slightly in France, the eurozone’s second biggest economy, from 9.8 percent to 9.9 percent.

The rate for the entire 27-nation European Union was stuck at 9.9 percent in December, with an estimated 23.816 million people unemployed.

Agence France-Presse
Agence France-Presse
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