Chart of the Day: Euro area unemployment rate hits a record 11.8%

The unemployment rate in the euro zone hit 11.8% in November according to the numbers released by the EU this morning. That is a record. The EU-27-wide unemployment rate was 10.7%. This contrasts very unfavourably to the unemployment levels in other large advanced economies: 7.8% in the United States and the United Kingdom, 4.1% in Japan, and 3.1% in Switzerland.

Press release below:

The euro area (EA17) seasonally-adjusted unemployment rate was 11.8% in November 2012, up from 11.7% inOcto...


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