Eurozone joblessness hits record high

Unemployment in the 17 countries that use the euro hit its highest level since the currency was introduced back in 1999 official figures showed yesterday, adding to fears that the region is back in recession.

Eurostat, the European Union’s statistics office, said unemployment in the eurozone rose to 10.8% in February from 10.7% the previous month. The number of unemployed totalled 17.1m, nearly 1.5m higher than the same month a year ago.

The figures stand in marked contrast to the US, which has recorded solid increases in employment over the past few months.