Unemployment across euro zone reaches new highs

Unemployment rose to new record highs in September, according to data from the European statistics office Eurostat. Despite eased inflation in the 17 countries that share the euro, unemployment has risen to 11.6 percent of the workforce, the highest level since 1995. The highest rate was in Spain, with 25.8 percent out of work. Among young Spaniards, under 25 years old, unemployment rose to a staggering 54.2 percent in September, up from 53.8 percent the month before. Austria had the lowest unemployment rate of 4.4 percent.