Eurozone unemployment rises to 11.7%

Friday 30 November 2012 17.11
Spain and Greece have the eurozone's highest rates of unemployment
Spain and Greece have the eurozone's highest rates of unemployment

Recession in the eurozone has pushed unemployment in the region up to a record 11.7% in October.

Eurostat, the European Union's statistics office, has said that 18.7 million people were out of work across the eurozone last month.

The increase from the previous month's 11.6% was anticipated in light of the currency bloc’s return to recession in the third quarter.

Spain and Greece have the region's highest unemployment rates; both over 25%, with youth unemployment levels heading towards 60%.

Figures released by the Central Statistics Office yesterday show that Ireland's unemployment rate was 14.8% in the three months from July to September.

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