Eurozone hits record high 12 percent unemployment

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The number of people who are jobless in the 17 nations that comprise the eurozone rose by 33,000 in February, and now more than 19 million are out of work, Eurostat statistical agency reported.

That drove the unemployment rate to 12 percent for the month — a record level, BBC says. Greece had the worst numbers, with joblessness above 26 percent. Unemployment in France saw a slight rise in February and is almost at 11 percent.

Blame manufacturing, BBC says. In short: It’s deteriorating in the region and this month’s figures aren’t looking good at all.

But not all the news is negative.

The Associated Press says Germany has a better unemployment rate than even the United States — 5.4 percent to America’s 7.7 percent.

Still, officially the eurozone is back in recession, AP says.

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