Euro-Area Unemployment at 15-Year High as Slump Deepens: Economy

Euro-region unemployment rose to a 15-year high and manufacturing contracted for a ninth month, adding to signs the economic slump is deepening.

The jobless rate in the 17-nation euro area increased to 10.9 percent in March from 10.8 percent in February, the European Union statistics office in Luxembourg said today. That’s the highest since April 1997, according to Bloomberg News data. Separate reports showed euro-area manufacturing contracted more than initially estimated in April and unemployment in Germany, the region’s largest economy, unexpectedly increased.