|Europe Unemployment Hits Record High|
Official European Union figures published recently showed unemployment in the euro zone hit a record high of 12.0% in February, and young people are paying a particularly heavy price.
The reported January rate of 11.9% was also revised up to 12.0%, meaning the continent has spent consecutive months at the new record level.
Some 19 million people are out of work in the euro zone, 3.6 million of them under the age of 25, meaning nearly one in every four young people are without a job.
Compared with the same month a year earlier, the jobless total in the euro zone has increased by 1.8 million, with the depressed economies of southern Europe suffering the most.
There is little hope that Europe will return to growth this quarter, especially in the wake of a messy and tumultuous bailout for the tiny nation of Cyprus.
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Published on our website on April 3, 2013