Tuesday, April 3, 2012

Highest rate of unemployment recorded in euro zone

LONDON — Unemployment in the 17 countries that use the euro hit its highest level since the currency was introduced back in 1999,official figures showed Monday,adding to fears that the region is in recession.Eurostat,the European Union’s statistics office,said unemployment in the euro zone rose to 10.8 percent in February from 10.7 percent the previous month. The number of unemployed totaled 17.1 million,nearly 1.5 million higher than the same month a year ago. Of the 17 countries in the euro zone,seven countries had unemployment rates of above 10 percent.

The figures stand in marked contrast to the United States — with an unemployment rate of 8.3 percent — which has recorded solid increases in the number of people finding work during the past few months.

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