News Summary: Eurozone unemployment hits new high

UNWELCOME RECORD: The number of unemployed in the 17-nation eurozone reached a record high in September as the bloc's nascent recovery failed to generate jobs, official data showed Thursday.

YOUTH HIT HARDEST: The ranks of the jobless swelled by 60,000 to a record 19.45 million. The unemployment rate remained at 12.2 percent. A particularly gloomy stat was on youth unemployment. It rose to 24.1 percent from 24 percent in August.

INFLATION DROPS: A sharp and unexpected drop in inflation to 0.7 percent in October from 1.1 percent a month earlier also cast doubts over the recovery of the eurozone, which just emerged from recession.

Related Headlines

  • Spain jobless rate stuck at 26 pct

    Spain's sky-high unemployment rate remained stuck at 26 percent in the fourth quarter as the economy expanded but not enough to trigger job growth, according to a pair of ... 

  • Eurozone inflation stable, eases pressure on ECB

    The inflation rate in the 18-country eurozone held steady in February, against analysts' expectations of a further slide that would have put more pressure on the European ... 

  • Italy's new leader says creating jobs his priority

    Italy's new premier has vowed that his government's top focus will be reducing unemployment, which has hit a new high. Premier Matteo Renzi tweeted during a Cabinet meeting ... 

  • Wolfgang Schaeuble, Yannis Stournaras

    Eurozone unemployment stuck near record high

    The 18-country eurozone may have emerged from recession last year, but that has done little good to the jobs market, with unemployment stuck near a record high since then.