The 17-nation bloc had a jobless rate of 11.6 per cent in September, while inflation eased slightly in the last month.
Although some countries in the Eurozone have lower unemployment rates like Austria (4.4%) and Germany (5.4%), more are in the worst collective tailspin since the creation of the common currency. Spain has the worst unemplyment rate at 25.8% of the adult population out of work. It has taken a nasty cultural and political turn as resentments and frustrations are boiling over in the Eurozone. Some are derisively referring to the struggling southern European countries as P.I.G.S. (Portugal, Italy, Greece, Spain).