4 Jul 2012

EZ unemployment still rising

6:08 am on 4 July 2012

Unemployment in the euro zone reached another record in May, as the financial crisis pushes the continent toward the brink of recession.

Eurostat, the European Union's statistics office, says unemployment for the month rose to just over 11%.

In total, 17.6 million people were out of work in the euro zone, an increase of 88,000 on the month before and 1.8 million more than a year earlier.

The highest unemployment rate was recorded in Spain, where 24.6% of people were out of work in May.

Youth unemployment in both Spain and Greece is well over 50%.