Euro-zone Unemployment Hits New Euro-era High
The seasonally-adjusted unemployment rate across the 17 nations that use the euro rose to 10.9% in March from 10.8% in February, the European Union statistics agency Eurostat reported Thursday.
The seasonally-adjusted unemployment rate across the 17 nations that use the euro rose to 10.9% in March from 10.8% in February, the European Union statistics agency Eurostat reported Thursday. The number of unemployed workers across the region rose by 169,000 to a total of 17.365 million, Eurostat said. Both figures are the highest seen since the launch of the euro in January 1999, said Howard Archer, chief European economist at IHS Global Insight in London. "It now looks odds-on that the euro-zone unemployment rate will move appreciably above 11% over the coming months with an ever growing danger that it will reach 11.5%," Archer said, in a note.
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