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Eurozone jobless rate hits record high

Unemployment in the eurozone reached a record high again in March as spending cuts continued to hit the working population.

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Austerity and a lack of jobs have led to protests on the streets of Italy

For all 17 nations in the eurozone, the jobless rate rose again to 10.9%, the highest since the euro was formed in 1999, Eurostat said.

For the eurozone, 17.4 million are now looking for work and more than 3 million of those are under 25.

Italy's unemployment rate reached a 12-year high, up to 9.8%.

And in a surprise move, the jobless rate in Germany rose to 6.8% in March, official figures showed, having been expected to stay at the previous month's 6.7% after six months of declines.

The number of Germans out of work is now at 2.87 million.

For the whole of the European Union, including countries such as the UK and Denmark, the jobless rate is 10.2%.
Austerity


Added: May-2-2012 
By: gemini
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Tags: austerity
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