Eurozone jobless hits 10-year high

Unemployment reaches 9.5 per cent across the 16 euro countries as recession deepens.

    Analysts say unemployment rates could rise further over the coming year [GALLO/GETTY]

    The May eurozone unemployment rate was up from 9.3 per cent in April and 7.4 per cent in May 2008.

    'Rates to rise'

    Spain was shown to have the biggest jobless rate among eurozone nations, with 18.7 per cent unemployment.

    The lowest unemployment rate was in the Netherlands, where only 3.2 per cent of the working population were without a job in May.

    Meanwhile, in the 27-nation EU, the unemployment rate rose to 8.9 per cent in May, hitting the highest level since June 2005.

    Eurostat estimated that in total 21.5 million people were  unemployed across the EU in May, of which 15 million were in the euro area.

    Jennifer McKeown from Capital Economics, a research company, said the worst was not over for the job market.

    "Survey measures of hiring intentions point to a further easing in the rate of job cuts to come," she said.

    "But given that labour market developments tend to lag behind those in the wider economy, unemployment almost certainly has considerably further to rise. We expect the rate to reach about 12 per cent next year."

    SOURCE: Agencies


     How Britain Destroyed the Palestinian Homeland

    How Britain Destroyed the Palestinian Homeland

    Ninety-nine years since Balfour's "promise", Palestinians insist that their rights in Palestine cannot be dismissed.

    Afghan asylum seekers resort to sex work in Athens

    Afghan asylum seekers resort to sex work in Athens

    In the rundown Pedion Areos Park, older men walk slowly by young asylum seekers before agreeing on a price for sex.

    Profile: Osama bin Laden

    Profile: Osama bin Laden

    The story of a most-wanted fugitive and billionaire.