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Euro Zone jobless rate balloons to 10-year high

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  • “Between May 2008 and May 2009, the unemployment rate for males rose from 6.7 per cent to 9.3 per cent in the euro area and from 6.4 per cent to 8.9 per cent in the European Union,” the statement noted.

    Eurostat said that female unemployment rate increased from 8.2 per cent to 9.7 per cent in the euro area and from 7.4 per cent to 8.9 per cent in the European Union.

    Among the European nations, the highest jobless rates were recorded in Spain at 18.7 per cent, followed by Latvia (16.3 per cent) and Estonia (15.6 per cent).

    The lowest unemployment rates were reported in the Netherlands (3.2 per cent) and Austria (4.3 per cent).

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