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Euro zone unemployment rate rises to record high in November

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Investing.com - The euro zone's unemployment rate rose in line with expectations to hit a fresh record high in November, 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 rose to a seasonally adjusted 11.8% in November from 11.7% in October.

Analysts had expected the jobless rate to inch up to 11.8%.

The jobless rate stood at 10.6% in November 2011.

According to the data, the number of unemployed people in the euro zone was 26.06 million in November, of whom 18.82 million were in the euro area.

Compared with October, the number of persons unemployed increased by 154,000 in the EU27 and by 113,000 in the euro area.

Among euro zone member states, the lowest unemployment rates were recorded in Austria, Luxembourg and Germany, while Spain at 26.6% and Greece at 26% recorded the highest rates.

Following the release of the data, the euro was little changed against the U.S. dollar, with EUR/USD easing up 0.02% to trade at 1.3118.

Meanwhile, European stock markets remained mixed. The EURO STOXX 50 added 0.1%, France's CAC 40 rose 0.3%, London's FTSE 100 eased up 0.1%, while Germany's DAX dipped 0.15%.

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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.


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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