Economy

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.

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