6 JANUARY 2012

Unemployment in the Euro area stood still at a record high 10.3% of the working population in November month-on-month equally to the previous month and the EU 27 jobless rate froze at 9.8% according to Eurostat latest figures. Compared with a year ago, the number of jobless inched up in each region as austerity measures dented an already weak labor market. An estimate 16.372 million men and women are jobless in the single currency region and 23.674 million in the EU 27 with male joblessness deteriorating further, 10% in November year-on-year in the Euro area (compared with 9.8%) and 9.7% in the EU 27 (from 9.5%).

Spain and Greece, the hardest hit by the financial crisis besides Portugal and Ireland, recorded the highest jobless rates, respectively 22.9% and 18.8% up to September public figures for the latter. The Euro area's unemployment figures for the under 25 was 21.7% and in the EU 27 at 22.3% compared with 16.8% in the USA. Youth unemployment worsened in Spain in November to 49.6% (from 49% in October), stagnated in Ireland at 29.3%, and was 30.7% in Portugal (from 30.4%). Figures were unavailable for Greece.
The lowest youth jobless rates were recorded in Germany at 8.1% (from 8.3%), in Austria at 8.3% (from 8.7%) and in the Netherlands at 8.6% (from 8.2%)

Per gender, male and female unemployment in the Euro area stood respectively at 10% and 10.7% and in the EU 27 at 9.7% and 10%. Lower female unemployment, compared with male, was solely recorded in Romania, Slovenia, Bulgaria, Finland, Ireland and Sweden while inversely female joblessness prevailed in the Union, and in Spain reached a record high 23%.