Eurozone unemployment at record

The 17-nation eurozone has started 2013 on a grim note, with new statistics showing November unemployment at an all-time high.

There is optimism the worst of the eurozone crisis is over, but the latest figures published by the European Union’s statistical service offers a dose of reality.

​Eurostat’s November figures show unemployment in the eurozone currency union climbing to a record 11.8 percent — up 0.1 percent from October, and more than a percentage point from a year ago.

Roughly 19 million people living in the currency union are out of work, two million more than a year ago. Unemployment is highest in two of Europe’s most indebted economies, Spain and Greece, with more than a quarter of their populations out of work.

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