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%).

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