Record Unemployment, Soaring Prices Hit Eurozone

Lousy combination

Euro zone unemployment is at a record high and consumer prices are being driven upward by volatile energy and food prices, data showed on Monday, underlining the fragility of the bloc's economic health.

Inflation in the 17-nation euro zone, which is suffering from its longest ever recession, increased to 1.6 percent year-on-year in June from 1.4 percent in May, the EU's statistics office Eurostat said.

Joblessness in the bloc stood at a record 12.1 percent in May, with the number of people out of work rising further above 19 million, Eurostat added.

(H/T Lord Humungus)