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| Eurozone unemployment reaches new high | Eurozone unemployment reaches new high |
| (35 minutes later) | |
| The unemployment rate across the eurozone hit a new all-time high of 11.8% in November, official figures have shown. | The unemployment rate across the eurozone hit a new all-time high of 11.8% in November, official figures have shown. |
| This is a slight rise on 11.7% for the 17-nation region in October. The rate for the European Union as a whole in November was unchanged at 10.7%. | This is a slight rise on 11.7% for the 17-nation region in October. The rate for the European Union as a whole in November was unchanged at 10.7%. |
| Spain, which is mired in deep recession, again recorded the highest unemployment rate, coming in at 26.6%. | Spain, which is mired in deep recession, again recorded the highest unemployment rate, coming in at 26.6%. |
| More than 26 million people are now unemployed across the EU. | More than 26 million people are now unemployed across the EU. |
| For the eurozone, the number of people without work reached 18.8 million, Eurostat, the official European statistics agency said. | |
| Barroso confidence | |
| Greece had the second-highest unemployment rate in November, at 20%. | |
| The youth unemployment rate was 24.4% in the eurozone, and 23.7% in the wider European Union. | |
| More recent figures from Spain's Labour Ministry suggest that the number of people registered as out of work in the country - a narrower measure than the Eurostat figures - fell in December. | |
| The ministry said earlier this month that the number of people registered as unemployed fell in December by 41,023 or 0.8%. | |
| The eurozone and wider European Union economies have struggled in recent years as government measures to reduce sovereign debt levels have impacted on economic growth. | |
| However, European Commission President Jose Manuel Barroso said on Monday that he believed the worst was over. | |
| Mr Barroso said the turning point was last September's promise from the European Central Bank to buy unlimited amounts of eurozone states' debts. | |
| BBC Economics Correspondent Andrew Walker said: "The biggest rises, in percentage terms, were in countries at the centre of the eurozone financial crisis - Greece, Spain, Cyprus and Portugal. One striking exception to that pattern was the Republic of Ireland where unemployment fell. | |
| "The general trend however remains upwards and it makes it even harder for the governments concerned to collect the taxes they need to stabilise their debts." |