Posted by: youngragingbull | May 31, 2013

Eurozone unemployment rate hits record 12.2%

The unemployment rate across the 17-nation Eurozone hit a record 12.2% in April, Eurostat, the European Union’s Statistics Office, said Friday.

Unemployment in the region rose in April from the previous record of 12.1% set in March, Eurostat said. Prior to the financial crisis of 2008, unemployment stood around 7.5%.

The number of unemployed rose 95,000 to 19.38 million and is set to reach 20 million by the year’s end, Eurostat said.

Unemployment was highest in Greece and Spain, coming in at roughly 25%. Meanwhile, unemployment in Germany was only 5.4%.


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