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Fiji Time: 9:32 AM on Tuesday 21 May

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Millions jobless

Bbc Business
Monday, September 03, 2012

Unemployment across the 17-nation eurozone hit a record 18 million in July, the EU statistics agency says.

Some 88,000 more people were added to the jobless total, but upwardly-revised data for June meant the unemployment rate remained at 11.3 per cent.

Eurostat said the 18,002,000 jobless total was the highest since records began in 1995.

The highest unemployment rate in the eurozone was in Spain, at 25.1 per cent.

The lowest was in Austria, at 4.5 per cent.

Compared with a year ago, the unemployment rate fell in 10 eurozone countries, increased in 16 and remained stable in Slovenia.

The largest falls were observed in Estonia (13.2 per cent to 10.1 per cent), Lithuania (15.2 per cent to 13.0 per cent) and Latvia (17.0 per cent to 15.9 per cent)

Meanwhile, the highest increases were registered in Greece (16.8 per cent to 23.1 per cent), Spain (21.7 per cent to 25.1 per cent) and Cyprus (7.7 per cent to 10.9 per cent).

Spain and Greece, which are struggling to tackle sovereign debt and banking crises, recorded jobless rates of more than 50 per cent in the under-25 age-group.