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Unemployment in Euro Zone hits record high

InternAdmin Contributor

Fundamental weaknesses in the euro zone economy were back in the spotlight Monday, with the release of reports showing record unemployment in May, a decline in manufacturing and intense pressure on French public finances just days after European leaders decided on measures to reinforce the longer-term prospects for the currency union.

Unemployment in the euro zone rose in May to 11.1 percent from 11.0 percent in April, Eurostat, the statistical agency of the European Union, reported from Luxembourg. The May jobless figure was the highest recorded since the creation of the euro in 1999.

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