Saturday, April 03, 2010

Euro zone unemployment hits 10 per cent



Wed, Mar 31 2010 14:23 CET
Seasonally-adjusted unemployment in the 16-member euro zone was 10 per cent in February 2010, up from 9.9 per cent the previous month, European Union statistical office Eurostat said on March 31 2010.


Unemployment in the euro zone was 8.8 per cent in February 2009, according to Eurostat.

Across the 27-member EU, unemployment was 9.6 per cent in February 2010, from 9.5 per cent in January, and against 8.3 per cent in February 2009.

"For the euro area this is the highest rate since August 1998 and for the EU27 since the start of the series in January 2000," Eurostat said.

Eurostat estimates that 23.019 million men and women in the EU27, of whom 15.749 million were in the euro area, were unemployed in February 2010.

Compared with January 2010, the number of unemployed increased by 131 000 in the EU27 and by 61 000 in the euro area.

Compared with February 2009, unemployment went up by 3.139 million in the EU27 and by 1.844 million in the euro area.

Among the member states, unemployment was lowest in the Netherlands (four per cent) and Austria (five per cent), and the highest rates in Latvia (21.7 per cent) and Spain (19 per cent).

Compared with a year ago, all EU member states had higher unemployment....


3/12/2010 8:15 AM ET
Canada's unemployment (click here) rate edged lower in February as the nation's economy created nearly 21,000 jobs, fueling expectations that policy makers in Ottawa will raise interest rates sooner than previously expected....