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 Eurozone unemployment hits all-time high

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Eurozone unemployment hits all-time high Vide
PostSubject: Eurozone unemployment hits all-time high   Eurozone unemployment hits all-time high Icon_minitimeTue Apr 03, 2012 3:02 am
Eurozone unemployment jumped to an all-time high in February, hitting southern nations the hardest as the social toll from the debt crisis grips the 17-nation bloc, official figures showed Monday.

The jobless rate rose for the 10th consecutive month and at 10.8 percent set a 15-year record for the single currency area, according to the Eurostat data agency.

Eurozone leaders have vowed to pursue growth and jobs strategies to fend off a looming recession but they insist that unpopular budget cuts and structural reforms must continue in order to restore market confidence after two years of crisis.
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In another sign that recession is gripping the region, a key survey showed that manufacturing activity dropped to a three-month low in March, with the "malaise" spreading to top economies Germany and France.

Read more: http://www.smh.com.au/business/world-business/eurozone-unemployment-hits-alltime-high-20120403-1w9bn.html#ixzz1qxUDhZLv
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