Eurozone Jobless Rate Hits 11.6%

The eurozone's workforce shrank by 146,000 jobs in September, bringing the ranks of unemployed workers in the region to a record-high 18.5 million people, according to Eurostat.

The EU's statistics agency says the result was an increase in the jobless rate in the 17-country eurozone to 11.6% also a new record from 11.5% in August and 10.3% in September 2011.

Across the 27-nation EU, 169,000 jobs were lost in September, thus expanding the number of unemployed there to 25.8 million people. The region's jobless rate was unchanged month over month at 10.6%.

Nearly 23% of EU workers under age 25 5.5 million people were unemployed in September. Economists say the large number of youths out of work is contributing to growing unrest in Europe about government austerity measures.

Spain had the eurozone's highest jobless rate in September: 25.8% (up 0.3 points from August). More than half of the country's workers under age 25 are unemployed.

In Germany, only 5.4% of the workforce don't have jobs, unchanged from August, including 8% of those under 25. Both Italy (+0.2 points) and France (+0.1 point) had total unemployment rates of 10.8%.