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Eurozone unemployment rate hits record high at 10.4 pct

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The unemployment rate in the eurozone stayed at 10.4 percent in December 2011, unchanged compared with upwardly revised November figure, the European Union's (EU) statistical bureau Eurostat said on Tuesday.

The figure was the highest level since the introduction of euro single currency at the start of 1999.

It was up from 10.0 percent registered one year ago, a sign that the eurozone labor market was worsened along with worsening debt crisis and financial market turbulences.

For the 27-nation EU, the jobless rate remained stable at 9.9 percent in December. It was 9.6 percent a year ago.

Eurostat estimated that 23.816 million men and women in the EU, of whom 16.469 million were in the eurozone, were unemployed in December

Compared with November, the number of persons unemployed increased by 24 thousand in the EU and by 20 thousand in the eurozone. Compared with December 2010, unemployment rose by 923 thousand in the EU and by 751 thousand in the eurozone.

Among the member states, the lowest jobless rate was recorded in the Austria, which was 4.1 percent. The highest rate was seen in Spain, which was 22.9 percent in December.

The unemployment situation in Europe was still worse than that in the United States and Japan. In December, the unemployment rate was 8.5 percent in the U.S., while in November, it was 4.5 percent in Japan. 

Source: Xinhua

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