Unemployment Now at Record High in Eurozone
But inflation is coming down, which is good for those who still have money
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.