NEW YORK (CNNMoney) -- Widespread joblessness in Greece and Spain pushed the unemployment rate in the eurozone to the worst level since the currency was introduced in 1999.
The unemployment rate in the 17 countries thase use the euro hit 10.7% in January, according to Eurostat, the European Union statistics office. That compares to a rate of 10.6% in December, and 10% a year earlier.
"This is appalling," said Carl Weinberg, chief economist at High Frequency Economics, highlighting that the unemployment rate following the collapse of Lehman Brothers peaked at 10.2%.
What's more, the jobless rate for the last six months of 2011 were all revised higher.
Read more: http://money.cnn.com/2012/03/01/markets/europe_unemployment_rate/index.htm?iid=HP_River
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