Record high eurozone unemployment data revealed

<p>Unemployment in the eurozone has reached a new high.</p>

Unemployment throughout the eurozone continues to rise and has reached a new high, according to the release of official data.

The seasonally-adjusted rate for April was shown to be 12.2 per cent, which is up from 12.1 per cent in the previous month.

Among the countries to have particularly high unemployment at the present time are Greece and Spain, where jobless rates are above 25 per cent, while the lowest unemployment rate is in Austria at 4.9 per cent.

Frederik Ducrozet, an economist at Credit Agricole in Paris, suggested there may be no stabilisation in unemployment rates across the eurozone until the middle of next year.

"The picture in France is still deteriorating," he was quoted as saying by the media.

Youth unemployment remains a problem across Europe and the official statistics show 3.6 million people under the age of 25 in the eurozone were out of work during April.

This data comes shortly after the Economic Sentiment Indicator showed an improvement during May.

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