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Euro-Area Unemployment High

Jobless rate of 10.4% is loftiest in almost 14 years.

By Simone Meier, Bloomberg | Updated on January 31, 2012

European unemployment remained at the highest in almost 14 years in December, suggesting the region’s worsening debt crisis and cooling economic growth prompted companies to cut jobs.

The jobless rate in the 17-nation euro region held at 10.4 percent from the previous month, the European Union’s statistics office in Luxembourg said today. That’s the highest since April 1998 and in line with a Bloomberg News survey of economists. It had previously reported a November reading of 10.3 percent.

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