Wednesday, 7 March 2012

Eurozone unemployment ends 2011 at record high

LONDON (AP) — Unemployment across the 17 countries that use the euro ended 2011 at a record high, official figures showed Tuesday, a day after EU leaders acknowledged they would have to boost economic growth with the same urgency that they had shown in combating their nations' debts.

Eurostat, the EU's statistics office, said the 10.4 per cent unemployment rate in December was unchanged at its highest level since the euro was launched in 1999, as November's was revised upward from a previous estimate of 10.3 percent. Unemployment has been steadily rising over the past year — in December 2010, it stood at 10 percent — largely because of Europe's debt crisis.

There are huge …

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