Unemployment hits 10 percent in countries using the Euro

It has been reported that 16 countries that use the Euro as currency have hit the 10% unemployment in their countries, this is the first time it has hit these levels since it was introduced in 1999.

Altogether some 15.7 million people are out of work in the euro zone. Latvia has the highest jobless rate in the EU at 22.3%. In the euro zone Spain has the highest level peeking at 19.4% Only three euro zone countries are still in recession Spain, Greece and Cyprus.

The economy in the euro zone grew by 0.4% in the July to September quarter. In the EU, there was also still evidence of falling output in the UK, Estonia, Latvia, Hungary and Romania.

08.01.2010