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Eurozone unemployment hits new record high of 12%

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Eurozone unemployment hits new record high of 12%

The latest unemployment figures for the eurozone have brought little cheer. They showed the jobless rate held at 12 percent in February, a new record jointly with January, which was revised up from 11.9 percent.

The European statistics agency Eurostat said that in the 17 countries using the euro currency more than 19 million men and women were unemployed. Compared to February 2012, there are 1.775 million more people out of work in the bloc.

For the whole European Union, in February 2013, the unemployment rate reached 10.9 percent, compared to 10.8 percent the previous month. That means there are now almost 26.4 million unemployment men and women in the 27 countries of the EU.

Young Europeans are the worst hit by this mass unemployment. In February 2013, the unemployment rate for under 25 year olds hit 58.4 percent in Greece (data for December 2012), 55.7 percent in Spain, 38.2 percent in Portugal and 37.8 percent in Italy.

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