Unemployment climbed to a record high in the EU in October, the latest monthly labour market analysis of the European Commission says.
The number of people out of work continues to rise (+0.8 % in October 2012), reaching a new high of 25 913 000 (an unemployment rate of 10.7 %).
Over the last 19 months to October 2012, unemployment has risen continuously, with 3.4 million more unemployed in the EU (up by14.9 %).
Unemployment has risen more in the Euro area than in the EU as a whole in recent months. The upward trend persisted in about a dozen of the Member States. This once again confirmed the growing disparities among Member States.
Youth unemployment is accelerating from an already record level in the EU, and is on the rise in 17 Member States.
The outlook for the coming months remains poor. Employment expectations in industry stabilised, while they are still weak for services and particularly depressed in the construction sector. European consumers’ fears of unemployment are growing.
Restructuring activity level in November 2012 is still much higher than the average 2012.