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Eurozone Unemployment at Record High of 12 Percent

LONDON (AP) — The eurozone economy has passed another bleak milestone.

Official figures Tuesday showed that unemployment across the 17 European Union countries that use the euro has struck 12 percent for the first time since the currency was launched in 1999.

Eurostat, the EU's statistics office, said the rate in February was unchanged at the record high after January's figure was revised up to 12 percent from 11.9 percent. Spain and Greece have mass unemployment and many other countries are seeing their numbers swell to uncomfortably high levels.

Source: AP. Read full article. (link)

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  • JWatts||

    Yes, but what's the real rate? The US Labor Force Participation rate is 64% and falling. But it's hard to even find out what the European Labor Force Participation rate actually is. Less than 60% and falling, more than likely.

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