Euro Crisis

Unemployment Now at Record High in Eurozone

But inflation is coming down, which is good for those who still have money

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Unemployment in the eurozone has surged to a fresh record high, while inflation has fallen to a three-year low, boosting expectations that the European Central Bank will cut interest rates.

Unemployment in the 17 countries using the euro hit 12.1% in March, up from February's 12%, according to official figures from Eurostat.

In total, 19.2m people are now out of work in the region.

Separate Eurostat data showed that inflation slowed to 1.2% in April.

Greece and Spain recorded the highest unemployment rates in the eurozone, at 27.2% and 26.7% respectively, while Austria, at 4.7%, and Germany, at 5.4%, had the lowest rates.