Eurozone unemployment stays steady

Eurozone unemployment stayed steady last month, according to the EU statistics office Eurostat.

Of course, the figures stayed steady at record highs, but they did not get worse, reports Kyero, with unemployment remaining at 11.4 per cent in August, the same as in July.

Spain, on the other hand, saw its unemployment rise by 10 per cent. The country, which already has the highest unemployment rate in the EU, saw its unemployment reach 25.1 per cent in August.

"Among the EU member states, the lowest unemployment rates were recorded in Austria (4.5%), Luxembourg (5.2%), the Netherlands (5.3%) and Germany (5.5%)," adds Kyero.

Compared to August 2011, unemployment rose in 20 EU member states, although it decreased in six countries (particularly in Estonia and Lithuania) and stayed stable in the UK. Overall youth unemployment, meanwhile has hit 5.5 million, with 3.4 million of the under-25s out of work located in the eurozone countries.