Eurozone unemployment hits all-time high: 19 million out of work
April 03, 2013 01:51
Eurozone unemployment levels have hit 12 percent the highest in the history of eurozone record-keeping, since the currency was launched in 1999.
The average unemployment rate across the eurozones 17 constituent European Union countries rose from Januarys initial 11.9 percent high to 12 percent in February, meaning a further 33,000 people were put out of work. Overall, 19.071 million are jobless across Europe.
Some countries, including Spain and Greece suffered unemployment rates as high as 26 percent over the month of February.
Spain and Greece have both been shaken by violent protests, with Greece experiencing a massive increase in suicides and attempted suicides in 2010 and 2011.
Conversely, the lowest unemployment rates are still to be found in Luxembourg (5.5 percent), Germany (5.4 percent), Austria (4.8 percent) and the Netherlands (6.2 percent).
Youth unemployment (under-25s) has also soared, leaving 5.694 million out of work in the EU 27 (3.581 million of whom were in the euro area).
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