Euro-Area Jobless Rate Rises to Record Amid Recession: Economy

Euro-area unemployment increased to a record in April after the currency bloc’s recession deepened in the first quarter, increasing pressure on its leaders and the European Central Bank to spur economic growth.

The euro-area jobless rate rose to 12.2 percent from 12.1 percent in March, the European Union’s statistics office in Luxembourg said today. That’s in line with the median of 37 economists’ estimates in a Bloomberg News survey. Inflation accelerated in May to 1.4 percent, led by rising prices for food and services, a separate report showed.