Euro-zone's jobless total rises in February

The euro-zone's jobless total moved higher in February, rising from 8.6 per cent to 8.7 per cent, according to seasonally adjusted data released yesterday.

The Republic recorded the fourth-lowest rate in the 12-state currency area, with 4.5 per cent of the labour force registered as unemployed in February. This rate, unchanged since January, compares with 2.8 per cent in Luxembourg, 3.4 per cent in the Netherlands and 4.2 per cent in Austria.

Spain's unemployment rate of 11.9 per cent remains the highest in the euro zone.

Germany, the largest economy in the euro zone, matched the average with a jobless total of 8.7 per cent.

Among the states for which recent data are available, 11 have recorded a rise in their unemployment rates over the past year. Portugal, with a jump from 4.3 per cent to 6.7 per cent, noted the most significant increase.

The euro-zone average climbed from 8.1 per cent in February 2002 to 8.7 per cent this year. This compares to 5.8 per cent in the US and 5.2 per cent in Japan.

Among the 10 states due to accede to the EU over coming years, an average unemployment rate of 14.8 per cent was recorded in February. Poland had the highest rate, with 20.2 per cent of the workforce unemployed.