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                      Eurozone Jobless Rate Hits New High

   Europe says the ranks of the unemployed in the 17-nation euro currency
   bloc are continuing to grow.
   The European Union said Friday the eurozone jobless rate hit a new high
   in April at 12.2 percent, with more than 19 million people unemployed.
   The overall rate masks large differences in the region. More than a
   quarter of workers are jobless in Greece and Spain, while the
   unemployment rate in economic powerhouse Germany is 5.4 percent.
   The number of jobless workers reached a new peak in France, while
   Italy`s unemployment mark hit a 36-year high at 12 percent. Youth
   unemployment remains a significant problem in several countries.
   With the eurozone mired in an 18-month-long recession, analysts say
   they do not expect any quick turnaround in its economic fortunes.
   In the last two years, the eurozone`s debt-ridden governments embarked
   on large-scale austerity plans to rein in their deficits, but the
   spending cuts and tax increases have sharply weakened the bloc`s
   economy.
   Five countries had to secure bailouts to avoid bankruptcy. But now,
   Europe has given some of them more time to meet mandated debt standards
   in an effort to rejuvenate the continent`s economy.
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References

   1. http://www.voanews.com/content/eurozone-jobless-rate-hits-new-high/1672101.html