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Tagseurostat
Jobless rate hits a record 10 per cent
UNEMPLOYMENT continued to spiral out of control, hitting a record 10 per cent in March and rising 45 per cent year on year for the month, figures released by Eurostat showed yesterday.The jobless rate in the in the eurozone rose to a 15-year high of 10.9 per cent in March, driven by lay-offs in Italy and Spain, and economists said worse was to come as the impact of the debt crisis extracts an ever greater toll."It now looks odds-on that the eurozone unemployment rate will move appreciably above 11.0 per cent over the coming months with an ever growing danger that it will reach 11.5 per cent," Howard Archer, economist at IHS Global Insight told Reuters yesterday. ... 9 comments
