EU Unemployment Hits All-Time High
Greece, Spain hit especially hard
By Kevin Spak, Newser User
Posted Jan 8, 2013 8:22 AM CST
In this March 29, 2012 file photo a woman sits alone in corridor in front of job consultants offices at the employment bureau 'Arbeitsagentur' in Berlin, Germany.   (AP Photo/Markus Schreiber, File)

(Newser) – Eurozone unemployment hit 11.8% in November, leaving a record 18.8 million out of work, according to data released today by the EU's official statistics agency. The figure, the highest recorded since the currency union formed in 1999, is only a touch higher than October, but a full 1.2 percentage points above where it was last year. Things aren't much better in the broader 27-nation European Union, which saw its jobless ranks swell to more than 26 million for the first time, the AP reports.

Unsurprisingly, the hardest hit nations were Greece, which saw its rate jump a whopping 7.1 points year-over-year to 26%, and Spain, which, with a rate of 26.6%, had the highest unemployment overall. By contrast, Austria, Germany, and Luxembourg are all sitting pretty, with rates ranging from 4.5% to 5.4%.

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Showing 3 of 31 comments
guvner
Jan 8, 2013 3:31 PM CST
That's OK, the EU won the Nobel. All is well in the leftist universe.
serfinWI
Jan 8, 2013 1:43 PM CST
Yay, high taxes, free health care, free handouts. What a great idea.
ApolitickalExtremist
Jan 8, 2013 1:22 PM CST
Burn baby burn. It's the council on foreign relations among many other groups goal to create 4 massive countries with basically one government for all of them, this is no secret, they admit this. This will be bad for the common man, they only desire control and power over others, I want no part of it and in time it will collapse just like the soviet union, british empire, roman empire, german empire. History does not lie and despots will die.