Perilous Times
30 November 2011 Last updated at 05:59 ET
Eurozone unemployment rate rises to 10.3%
Unemployment in Spain is the highest in the eurozone
BBC - The eurozone unemployment rate rose slightly to 10.3% in
October, up from a revised 10.2% in September, official figures
have shown.
The number of people unemployed rose by 126,000 from September to
16.3 million.
The rate in Germany fell to 5.5% from 5.7%, while that in Spain
rose to 22.8% from 22.5%, Eurostat said. Youth unemployment in
Spain rose to 48.9%.
Separate figures also released by Eurostat showed the eurozone
inflation rate unchanged at 3% in November.
Earlier this month, the European Central Bank cut eurozone
interest rates to 1.25% from 1.5%, and at the time said the
inflation rate would remain at "elevated levels" for a number of
months.
However, the bank forecast that inflation would fall to below 2%
next year.
The latest figures come as EU finance ministers prepare to meet to
discuss ways to resolve the eurozone debt crisis.
Ahead of the meeting, EU Monetary Affairs Commissioner Olli Rehn
said ministers were "entering the critical period of 10 days to
complete and conclude the crisis response".
An EU summit is scheduled to take place on 9 December.