EUROSTAT, IL SOLE 24 ORE (Italy)
PARIS – The euro zone has registered yet another record high unemployment rate of 12.2%, European statistics agency Eurostat reports on Friday.
Earlier in the day, Italy, the third-largest economy in the currency bloc, reported a first quarter jobless rate of 12.8%, the highest in the 36 years this data has been collected, Meanwhile youth unemployment rose to a staggering 40.5%, also an all-time record high, reports Il Sole 24 Ore.
-More than 26 million people unemployed in the 27-member European Union.
-More than 19 million unemployed in the 17-country euro zone.
-Euro zone average: 12.2%
-European Union average: 11%
Highest rates:
Greece: 27% in February 2013
Spain: 26.8%
Portugal: 17.8%
Lowest rates:
Austria: 4.9%
Germany: 5.4%
Luxemburg: 5.6%
In comparison, the United States was 7.5% down from 7.6% in the previous month and 8.1% in April 2012.
Youth unemployment:
-Euro zone youth unemployment: 24.4% up from 24.2% in January 2013.
-European Union under-25 unemployment: 23.5% down from 23.6% in January 2013.
Euro area inflation expected to be on the rise:
