Youth unemployment (under 25) grew across the euro area last month, to 23.5% in the European Union and 24.4% in the euro area, according to official figures. The highest rates occur in Greece, Spain, Portugal and Italy:
- Greece: 62.5% (Feb 2013)
- Spain: 56.4%
- Portugal: 42.5%
- Italy: 40.5%
The euro area unemployment rate grew to 12.2% in April 2013, up from 12.1% in March, according to the European Union's statistics office Eurostat. Among European Union countries the rate remains at 11%.
- Greece has the highest rate of unemployment: 27% (as of February)
- Spain follows closely behind with 26.8% of people out of work
- Portugal's unemployment rate stands at 17.8%
Italy's unemployment rate reached a 36-year-high in April of 12%, according to Bloomberg. The economy will contract 1.8% in 2013, as weak demand prolongs the longest recession in over two decades, the Organisation for Economic Cooperation and Development (OECD) said.
Italian youth unemployment figures reached a record high of 40.5% in April, CNBC reports.