Eurozone unemployment reached record high

Eurozone unemployment reached a record high at the end of last year, reveals Eurostat agency.


The unemployment rate hit a record high reaching a value of 10.4% in December last year, with some 16.5 million people jobless in the eurozone.


Spain had the highest unemployment rate at a value of 22.9% and Austria the lowest at 4.1%.


Spanish economy shrank by 0.3% in the last four months of 2011 and is bound to undergo recession in the first quarter of 2012.