Eurozone unemployment ticks higher to 7.7 per cent
(BRUSSELS) - Unemployment in the 15 nations using the euro nudged higher in October to 7.7 percent -- the highest in nearly two years, according to official EU data on Friday.
The rate, the highest since January 2007, was up from 7.6 percent in October and 7.3 percent percent, revised data from the European Union's Eurostat data agency showed.
After gradually falling in recent years to a record low of 7.2 percent in March, unemployment in the eurozone countries began creeping higher in April in the face of a deteriorating economic outlook.
In the 27-nation EU as a whole, the unemployment rate ticked higher in October to 7.1 percent from 7.0 percent in September, and from 6.9 percent in October 2007.
Eurostat estimated that 17.2 million workers were without a job in October throughout the EU, including 12.0 million in the eurozone.
October 2008 unemployment figures - Eurostat
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