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Eurozone Jobless Rate Rises

Unemployment in the 17-member eurozone edged up to 10.8% in February from 10.7% in January, according to EU statistics office Eurostat.

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Unemployment in the 17-member eurozone edged up to 10.8% in February from 10.7% in January, according to EU statistics office Eurostat.

The increase was the 10th consecutive month-on-month advance, pushing the jobless rate to the worst level since the euro was introduced in 1999.

Across the wider 27-nation EU, unemployment crept up to 10.2% in February from 10.1% the previous month. Eurostat says 24.6 million people were unemployed in the region, an increase of 1.9 million people from February 2011.

At 23.6%, Spain had the steepest unemployment rate, followed by Greece at 21% and four other countries with double-digit rates. Italy's unemployment reached 9.3% in February, the worst rate in eight years. Germany's jobless rate was 5.7%.

Gardner Business Media - Strategic Business Solutions