Eurozone jobless numbers hold out hope crisis has peaked
Published on Jan 8, 2014 9:06 PM
BRUSSELS (AFP) - Eurozone unemployment continued near record highs in November at 12.1 per cent but there were signs the bad times may be easing as the debt crisis peaks out, analysts said on Wednesday.
They said other data, notably a sharp improvement in retail sales, suggest the economy could be holding its own again after a soft patch but progress would remain slow.
The eurozone jobless rate came in at 12.1 per cent in November, unchanged from October, while retail sales rose 1.4 per cent by volume, more than reversing a fall of 0.4 per cent in October, the Eurostat statistics agency said.
There were about 19.24 million jobless in the eurozone in November, up 4,000 from October but soaring by 452,000 compared with November 2012 as the debt crisis pushed the economy into a deep recession.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!