Eurozone jobless rate hits new record high

Eurostat data also showed that the jobless rate of the EU's 27 member countries was 10.7 percent in November 2012, unchanged from October.
In both the euro area and the EU, unemployment rates had risen markedly compared with November 2011, when they were 10.6 percent and 10.0 percent respectively, according to figures of Eurostat.
Eurostat estimates that about 26.06 million people in the EU, of whom 18.82 million were in the euro area, were unemployed by the end of November 2012. Compared with October 2012, the number of the unemployed increased by 154,000 in the EU and by 113,000 in the euro area.
Among EU's member states, the lowest unemployment rates were recorded in Austria at 4.5 percent, Luxembourg at 5.1 percent, and Germany, at 5.4 percent, while the highest were registered in Spain at 26.6 percent and Greece at 26 percent.
In November, the youth unemployment rate was 23.7 percent in the EU and 24.4 percent in the euro area, compared with 22.2 percent and 21.6 percent respectively in November 2011.
While jobless rate further declined, business morale in the eurozone improved again in December.
Economic sentiment in the single-currency area rose by 1.3 points to 87 points in December, a second month in a row in which the index has gained, the European Commission's monthly business and consumer survey showed Tuesday.
Source: Xinhua