Eurozone Unemployment Rate Hits Record 11.4%

The unemployment rate in the 17-member Eurozone reached a record 11.4 percent in August 2012, according to Eurostat, the statistical agency of the European Union. This compares with a rate of 8.1 percent in the U.S.

The unemployment rates in Greece and Spain were both near or above 25 percent when last reported. Portugal’s unemployment rate was 15.9 percent, and Slovakia’s was 14.2 percent.

On the other hand, the unemployment rate in Germany was only 5.5 percent, and in the Netherlands only 5.3 percent.

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