Euro-zone jobless rate rises to record high

Almost one in four young Europeans was out of work in October as unemployment in the euro zone hit a record high, with more than 170,000 jobs lost as the economy slumped into recession, official data showed.

With the debt crisis further undermining sagging economies, the Eurostat data agency showed the jobless rate in the 17-nation euro zone climbing to a fresh high of 11.7 per cent in October, or more than 18 million people out of work. It was the 14th consecutive monthly record since September last year when unemployment hit 10.3 per cent.

via Business feed http://www.scmp.com/business/economy/article/1095825/euro-zone-jobless-rate-rises-record-high