Unemployment in the euro zone hit a record high in May, as the region continued to grapple with recession. The percentage of those out of work in the euro zone was 12.1% in the month, up from 12% in April and a marked drop from the 11.3% recorded in May last year, according to EuroStat, which released the figures on Monday. The highest rates in the 17-country euro-zone were in Spain and Greece, with jobless rates of 26.9% and 26.8% respectively. Across the wider 27-member EU, unemployment was stable compared with April, at 10.9%, but down from 10.4% a year ago. Joblessness increased in 17 of the EU states and fell in 10, according to EuroStat. People less than 25 years old bore the brunt, as youth unemployment hit 23% in the EU and 23.8% in the euro zone in May, with Greece top at 59.2%
Yet? Europe PMI at 16-month high in June, Germany slips
The euro-zone manufacturing purchasing managers index rose to a 16-month high in June, final data showed Monday according to Markit. PMIs rose in all nations except Germany, where the final number was revised down to 48.6 from a preliminary 48.7. The overall euro-zone number was 48.8 in June, up from 48.7 reported previously. In France, the PMI rose to 48.4 from a prior 48.3
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