EZ Unemployment Rises

The unemployment rate in the eurozone continued to rise in January, hitting another record high.

The jobless rate in the 17 countries that use the euro rose to 10.7% in January, while December’s figure was revised up from 10.4% to 10.6%.

There are now 16.9 million people out of work in the bloc, Eurostat said.

In Italy, the unemployment rate rose to 9.2% in January, the highest since monthly records began, the national statistics agency Istat said.

Italian unemployment had stood at 8.9% in December, but it is now at the highest rate since the first quarter of 2001, as the country finds itself in a second recession in four years.

Spain continues to have the highest unemployment rate in the euro area at 23.3%, while Austria has the lowest at 4%.

BBC News

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