News Summary: Unemployment risks new Europe divide

AP News
Posted: Jan 08, 2013 11:47 AM

JOBLESS SPLIT: The EU warned that record unemployment and fraying social welfare systems in southern Europe risk creating a new divide in the continent, as data showed joblessness across the eurozone hit a new high.

UNSETTLING UNEMPLOYMENT: Eurozone unemployment rose to 11.8 percent in November, the highest since the euro currency was founded in 1999.

UNEQUAL BURDEN: Unemployment is increasing mainly in southern Europe, where market concerns over excessive public debt have pushed governments to make the toughest savings, pushing the economies into recession. The highest rate was in Spain, where 26.6 percent of the workforce was jobless in November.