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Eurozone record jobless amid tame inflation

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The number of people out of work in the eurozone hit a record high in June.

The latest figures from Eurostat, the EU's statistics office showed 17.8 million people were unemployed and that total has increased every month for the last 14 months.

But there is huge disparity. Unemployment was as low as 4.5 percent of the working population in Austria and at the other extreme 24.8 percent in Spain, the highest level in the currency bloc.

The overall unemployment rate was 11.2 percent in June but much worse among young people - for those under 25 years old - it was 22.4 percent.

The figures were also revised upwards slightly to 11.2 percent in May also.

Spain slid deeper into recession in the second quarter as a tough new round of austerity to head off the budget crisis that threatens the euro affected both overall demand and the prices consumers have

Added: Jul-31-2012 Occurred On: Jul-31-2012
World News
Tags: euro, crisis, zone, europe, EU, record, jobless, unemployment, inflation, economy
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