Unemployment rate hits record high

Unemployment figures for March within the 17 nations of the eurozone rose by 169,000 or at a rate of 10.9 percent, the highest level since the euro launch, said statistics agency Eurostat.

The worse numbers came out of Spain at 24.1 percent, Portugal at 15.3 percent and Greece, where the unemployment rate hit 21.7 percent.

The increase means official unemployment figures are now at 17.4 million within the eurozone. Over the past year joblessness increased by 1.68 million.

The news comes as France and Greece are preparing to hold national elections on Sunday and a day before the European Central Bank’s monthly monetary policy meeting.