An Economic Tragedy Unfolding In Europe: EUROZONE JOBLESS HITS ANOTHER RECORD, Italy Hits 21-Year High; 26.2% In Spain, Britain Slides Toward New Recession… The Market Is Breaking Down
March 1st, 2013
EUROZONE JOBLESS HITS ANOTHER RECORD
BRUSSELS – Unemployment across the 17 European Union countries that use the euro has risen to a record 11.9 percent but inflation has fallen to its lowest level in two and a half years, official figures showed Friday.
Eurostat, the EU’s statistics office, said nearly 19 million people are unemployed in the eurozone following an increase of around 200,000 in January. That took the rate up from January’s 11.8 percent, the previous record.
Italy hits 21-year high
Italy’s seasonally adjusted unemployment rate jumped to 11.7 percent in January from 11.3 percent the month before to hit its highest level for at least 21 years, data showed on Friday.
The figure was above all forecasts in a Reuters survey of analysts which pointed to a marginal uptick to 11.3 percent.
26.2% in Spain, 27.0 % in Greece