Unemployment in the Eurozone has reached a record high, increasing to 11.8 percent in November, the EU’s statistics office reports. Spain and Greece are suffering the most with roughly one in four workers unemployed.
On Tuesday Eurostat released the detailed report about November’s unemployment figures along with data on the past 12 months.
According to the report, some 2 million people throughout the Eurozone lost their jobs between November 2011 and November 2012. The total number of jobless workers reached 18.8 million.
Spain and Greece top the list of countries with the highest unemployment rate, with 26.6 and 26.0 per cent (for September) respectively. The lowest rates were registered in Austria, Luxembourg, Germany and the Netherlands.
The Latest figures also show that youth unemployment has risen to 24.4% from 23.9% a month ago.
But while youth unemployment was at 8.1% in Germany and 9.7% in the Netherlands, in Spain and Greece it was 56.5% and 57.6% respectively.
In total Eurostat reported that 18,820,000 people are now out of work in the euro area.