Eurozone unemployment rate hits new record

Official data indicate that the unemployment rate in the eurozone climbed to a record high of 11.9 percent in January, from 11.8 percent in December 2012.

The Eurostat agency made the announcement on Friday, saying that almost 19 million people in the eurozone are out of work.

The agency also stated that compared with December, in January some 201,000 people joined the jobless queues in the eurozone with the highest rate registered in Greece at 27 percent. However, the figure for Greece is for November 2012.

Meanwhile, youth unemployment in the eurozone in January 2013 jumped to 24.2 percent, up from 21.9 percent in January 2012.

On February 22, the European Commission said the eurozone would witness another year of recession in 2013.

The Eurostat added that the jobless rate in the European Union also rose to 10.8 percent in January, from 10.7 percent in December 2012, with 26.2 million people unemployed.

The winter economic forecast of the EU had also said that the jobless rate in the euro area would hit 12.2 percent for 2013.

Europe plunged into financial crisis in early 2008. The worsening debt crisis has forced the EU governments to adopt harsh austerity measures and tough economic reforms.