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EU unemployment rate at record high of 11.6% in September

Last Updated: Thursday, November 1, 2012 - 10:09

Zeebiz Bureau

New Delhi: Unemployment rate in the Eurozone reached 11.6% in September as per official figures.

The rate reported by the EU's statistics office Eurostat, was up from an upwardly revised 11.5 percent in August. In total, 18.49 million people were out of work in the eurozone in September, up 146,000 on the previous month, the biggest increase in three months.

Once again, Spain held the ignominious position of having the highest unemployment rate in the eurozone, at 25.8 percent. Greece may yet surpass that — its unemployment rate mushroomed to 25.1 percent in July, the latest available figure, and is due to increase in the face of what many economists are calling an economic depression. The country is forecast to enter its sixth year of recession next year.

With Agency Inputs

First Published: Thursday, November 1, 2012 - 10:09
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