Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  April 02, 2013 11:36:14

Eurozone - the unemployment rate in February rose to a record 12%

The registered unemployment rate in the euro area in February of this year reached a new record level of 12%. The same value was revised January data preliminarily estimated at 11.9%.
January and February's level is the highest since the beginning of the observation data in 1995.

Eurozone economy has been declining 5 quarters in a row, deep debt crisis, despite the efforts and measures the EC, IMF and ECB selects the appropriate tax. Reduced economic activity is then reflected in the labor market. Given the continuing political pressure to further reduce state spending has no application in this regard, expect some major improvements.

The number of unemployed across the eurozone rose in February by 33,000 to 19.1 million people.

EK estimated the unemployment rate at the end of this year at 12.2%. In the next year, then to 12.1%.
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