Euro zone joblessness, at 11.4pc, risks ‘economic disaster’

The EU warned on Monday of an “economic and social disaster” if joblessness among young Europeans continued to rise, calling for a joint effort to combat record high unemployment in the countries which share the euro.

Joblessness in the 17 country bloc was 11.4 per cent of the working population in August, stable compared to July on a statistical basis, but with another 34,000 people finding themselves out of work in the month, the EU’s statistics office Eurostat said. It was 16th straight monthly rise.

via Business feed http://www.scmp.com/business/economy/article/1051766/euro-zone-joblessness-114pc-risks-%E2%80%98economic-disaster%E2%80%99