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The spending cuts have resulted in an increasing number of protests across Europe (Photo: EUobserver)

Eurozone unemployment hits new record

There was more grim news for the 17-nation eurozone on Wednesday (2 May) as new figures showed that the unemployment rate reached 10.9 percent in March with a further 169,000 people losing their jobs compared to February.

The figure - translating into 17.4 million looking for work in the eurozone and the highest rate since the euro's introduction in 1999 - is up from 10.8 percent in February of this year and 9.9 percent in March 2011.

The highest jobless rate was recorded in Spain...

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The spending cuts have resulted in an increasing number of protests across Europe (Photo: EUobserver)

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