Euro zone unemployment at 11.8%

Unemployment in the 17-country euro zone reached a record 11.8 per cent in November.

Meanwhile the number of jobless in the full 27-country EU topped 26 million for the first time since the financial crisis began three years ago.

The figures illustrate the task facing EU leaders to repair the region’s economies. While the threat that the single currency union might crumble seems to have receded, joblessness continues to rise.

The biggest rise was in Greece, where the number of unemployed soared to 26 per cent in September, up 7 per cent from November 2011.

The euro zone unemployment rate was up 0.1 per cent on October, and up from 10.6 per cent a year ago. The rate for the EU was unchanged on October at 10.7 per cent.

PA