Euro-Area Unemployment Hits Record 12.2% in April Amid Recession Nearing an End
Tweet
Share
E-mail
U.S. markets are indicated for a lower open Friday following news that unemployment in the 17-member euro-zone edged up to a new record high in April.
The European Commission's Eurostat said that its seasonally-adjusted unemployment rate hit 12.2 percent last month, from 0.1 points from 12.1 percent in March. The 27-member euro-zone reported unemployment at 11.0 percent, flat from the prior month. Unemployment in the same period last year was 11.2 percent and 10.3 percent, respectfully.
Eurostat said, "Compared with a year ago, the unemployment rate increased in eighteen Member States and fell in nine. The highest increases were registered in Greece (21.9 percent to 27.0 percent between February 2012 and February 2013), Cyprus (11.2 percent to 15.6 percent), Spain (24.4 percent to 26.8 percent) and Portugal (15.4 percent to 17.8 percent). The largest decreases were observed in Latvia (15.5 percent to 12.4 percent between the first quarters of 2012 and 2013), Estonia (10.6 percent to 8.7 percent between March 2012 and March 2013) and Ireland (14.9 percent to 13.5 percent)."
About 19.375 million people in the 17-member euro-area were unemployed at last check.
Growth in the euro-area was negative 0.2 percent in the first three months of 2013. Many expect Europe to leave its recession behind starting in the current quarter.
The European Commission's Eurostat said that its seasonally-adjusted unemployment rate hit 12.2 percent last month, from 0.1 points from 12.1 percent in March. The 27-member euro-zone reported unemployment at 11.0 percent, flat from the prior month. Unemployment in the same period last year was 11.2 percent and 10.3 percent, respectfully.
Eurostat said, "Compared with a year ago, the unemployment rate increased in eighteen Member States and fell in nine. The highest increases were registered in Greece (21.9 percent to 27.0 percent between February 2012 and February 2013), Cyprus (11.2 percent to 15.6 percent), Spain (24.4 percent to 26.8 percent) and Portugal (15.4 percent to 17.8 percent). The largest decreases were observed in Latvia (15.5 percent to 12.4 percent between the first quarters of 2012 and 2013), Estonia (10.6 percent to 8.7 percent between March 2012 and March 2013) and Ireland (14.9 percent to 13.5 percent)."
About 19.375 million people in the 17-member euro-area were unemployed at last check.
Growth in the euro-area was negative 0.2 percent in the first three months of 2013. Many expect Europe to leave its recession behind starting in the current quarter.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank calls Treasury buyback doubling similar to ’operation twist’
- Goldman Sachs closes short THB/INR trade for small gain
- BofA says US yen intervention may need stronger follow-up
Create E-mail Alert Related Categories
Forex, Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
