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Euro area unemployment hits another record high

Euro area unemployment hits another record high

Unemployment across the 17 countries that use the euro rose to 10.9 percent in March, its highest level since the euro was launched in 1999, official figures show.
The rate was up from 10.8 percent in February and 9.9 percent a year ago, and reflects the downturn in the eurozone economy as governments pursue tough austerity measures to deal with their debts. Wednesday's figures from Eurostat, the EU's statistics office, are likely to ratchet up the pressure on governments to back more pro-growth policies, alongside austerity.
Once again, Spain holds the unenviable position of having the highest proportion of its people unemployed at a 24.1 percent. The rate for the under 25s is even higher at 51.1 percent.


Updated : 2021-01-15 23:16 GMT+08:00