MW: Euro-zone jobless rate hits record 11.1% in May
By William L. Watts
FRANKFURT (MarketWatch) -- The unemployment rate in the 17-nation euro zone rose to 11.1% in May from 11% the previous month, hitting its highest level since the current statistical series began in 1995, the European Union statistical agency, Eurostat, reported Monday. Economists surveyed by Dow Jones Newswires had forecast a reading of 11.1%. The number of jobless persons in the region rose by 88,000 in the euro area to a total of 17.561 million, Eurostat said, also marking a record. Spain's unemployment rate was the highest in the euro zone at 24.6%, while Austria maintained the lowest jobless rate at 4.1%.
