Eurozone Unemployment Hits 11.6%

The eurozone's unemployment rate ticked up to 11.6% in September, according to Eurostat, the European Commission's statistics agency. According to Eurostat, the rate in the 17 countries was a slight advance from August's 11.5%, but a notable increase over the 10.3% recorded in September 2011.

In the wider European Union consisting of 27 countries, unemployment stood at a collective 10.6% in September. The rate was the same in August, while it was 9.8% in September 2011.

Out of the EU member states, Spain and Greece recorded the highest jobless levels; both came in at over 25%. The nations with the lowest rates were Austria, at 4.4%, and Germany and the Netherlands, both of which came in at 5.4%.

On a year-over-year basis, 20 of the Union's countries saw an increase in unemployment in September and seven clocked a decrease. The highest gain was recorded by Spain (from 22.4% to 25.8% during that period), while Lithuania had the steepest drop (14.7% to 12.9%).

The article Eurozone Unemployment Hits 11.6% originally appeared on

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.