Financial Meltdown in Europe: Unemployment rate increases to 11.9% in Eurozone countries

Eurasia News

Brussels: The unemployment rate in European Union jumped to 11.9% in January from 11.8% in December.
According to Eurostate, statistics agency, 17 countries that use the euro observed record high unemployment in January as shown in official figures.
The highest rate was 27% in Greece, although the most recent figure there was from November, while the lowest rate was 4.9% in Austria. Unemployment rates among countries that have reported their January figures were 26.2% in Spain and 17.6% in Portugal.
Analysts said that the high unemployment and low figure for inflation would make it more likely to result cut in interest rates of banks.