Inflation Slows While Unemployment Rises in the Euro Zone

“The euro-area jobless rate climbed to a record in September as the fiscal crisis and tougher austerity measures threatened to deepen the economy’s slump.

Unemployment in the 17-nation region rose to 11.6 percent from 11.5 percent in August, the European Union’s statistics office in Luxembourg said today. That’s the highest since the data series started in 1995. The data also showed that youth unemployment is at 23.3 percent, withSpain’s rate more than double that, at 54.2 percent. A separate report showed inflation cooled to 2.5 percent in October from 2.6 percent.”

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