Unemployment hits 10% in eurozone
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Pastor Dale Morgan
Jan 29, 2010, 6:32:39 AM1/29/10
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Perilous Times
Unemployment hits 10% in eurozone
January 29, 2010 - 9:34PM
One in 10 workers across Europe's core euro currency area is now unemployed, according to new European Union data issued on Friday that showed Spain bearing the brunt of a jobless recovery.
The human cost of structural economic adjustment post-recession could be seen when the seasonally-adjusted unemployment rate for the 16 euro countries hit a miserable 10 percent in December.
The EU's Eurostat agency estimated that an extra 87,000 people fell out of work in the weeks before Christmas -- down from the 102,000 people joining the benefit queues in November.
It was the highest rate since the currency was launched a decade ago and up from a downwards-revised 9.9 percent in November.
Initial figures for November published earlier this month had pegged the eurozone rate at 10 percent.
Unemployment hits 10% in eurozone
January 29, 2010 - 9:34PM
One in 10 workers across Europe's core euro currency area is now unemployed, according to new European Union data issued on Friday that showed Spain bearing the brunt of a jobless recovery.
The human cost of structural economic adjustment post-recession could be seen when the seasonally-adjusted unemployment rate for the 16 euro countries hit a miserable 10 percent in December.
The EU's Eurostat agency estimated that an extra 87,000 people fell out of work in the weeks before Christmas -- down from the 102,000 people joining the benefit queues in November.
It was the highest rate since the currency was launched a decade ago and up from a downwards-revised 9.9 percent in November.
Initial figures for November published earlier this month had pegged the eurozone rate at 10 percent.
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