Despite growing optimism from businesses and consumers, unemployment in the 16-nation eurozone surged to 8.9% in March, the highest rate in almost five years, according to the EU's statistics office. Across all 27 EU countries, joblessness edged up from February's 8.1% to 8.3% in March.
Eurostat's first estimate for inflation was the same as March and well below the European Central Bank target of just under 2 percent. It won't give details for each nation until May 15.
EU officials forecast that some 3.5 million jobs will be lost in the EU this year — although employers say that will likely be far higher at around 4.5 million.
Spain, hit hard by a collapsing housing boom and lower tourist numbers, now has the highest jobless rate in the EU at 17.4 percent. More than a third of Spanish workers under the age of 25 are out of a job.
EU officials forecast that some 3.5 million jobs will be lost in the EU this year — although employers say that will likely be far higher at around 4.5 million.
Spain, hit hard by a collapsing housing boom and lower tourist numbers, now has the highest jobless rate in the EU at 17.4 percent. More than a third of Spanish workers under the age of 25 are out of a job.
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