Eurozone jobless total reaches fresh high

Unemployment in the eurozone hit a fresh high in July 2012, while inflation increased more than expected – a mix that could make it harder for policy makers to take decisive measures to restore business confidence and boost economic growth.

There were 18m people without jobs in the 17-country euro area in July, the highest number since the launch of Europe’s monetary union in 1999.

The unemployment rate remaining at 11.3%, according to Eurostat, the EU’s statistical office. Joblessness among the under-25s was 22.6%.

BBC News, 31.8.12: Eurozone unemployment at new high http://www.bbc.co.uk/news/business-19434612

Eurostat: Press Release, No.124, 2012: July 2012 Euro area unemployment rate at 11.3% EU27 at 10.4% http://europa.eu/rapid/pressReleasesAction.do?reference=STAT/12/124&format=PDF&aged=0&language=EN&guiLanguage=en

Eurostat: Press Release, No.123, 2012: Flash estimate - August 2012 Euro area inflation estimated at 2.6% http://europa.eu/rapid/pressReleasesAction.do?reference=STAT/12/123&format=PDF&aged=0&language=EN&guiLanguage=en

ESO: Background information: Eurozone unemployment at record high http://www.europeansources.info/record/eurozone-unemployment-at-record-high/

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