9 Jan 2010

Unemployment now 10% in eurozone

11:21 am on 9 January 2010

Unemployment in the 16 countries that use the euro hit 10% in November for the first time since the single currency was introduced in 1999.

Eurostat said the unemployment rate in the eurozone is now at its highest level since August 1998. Some 15.7 million people are out of work in the eurozone.

Some 22.9 million people are unemployed across all 27 countries in the EU.

The jobless rate rose to 9.5% in November from 9.4% in October.

Compared with a year ago, all EU member states recorded an increase in their unemployment rate.

However, separate Eurostat figures also confirmed that the eurozone economy grew by 0.4% in the July to September quarter.

The BBC reports only three eurozone countries are still in recession - Spain, Greece and Cyprus.