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Euro zone unemployment rate hits record high 12% in February

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Investing.com - The euro zone's unemployment rate held steady in line with expectations at a record high in February, underscoring concerns over the impact of the region's debt crisis on growth, official data showed on Tuesday.

In a report, Eurostat said that the euro zone's unemployment rate held steady at a seasonally adjusted 12% in February, unchanged from January and in line with expectations.

Following the release of the data, the euro was lower against the U.S. dollar, with EUR/USD easing down 0.1% to trade at 1.2838.

Meanwhile, European stock markets remained higher. The EURO STOXX 50 added 0.4%, France's CAC 40 rose 0.5%, London's FTSE 100 climbed 0.8%, while Germany's DAX advanced 0.65%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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