http://www.dailyfinance.com/2012/08/31/eurozone-jobless-rate-stuck-at-record-high-11-in-july/

The article talks about how the unemployment rate is stuck at a record high in the Eurozone. In July the Eurozone hit an all time high unemployment rate of 11.3%. The European Union’s statistical agency showed that 88,000 people were unemployed, which adds up to a total of 18 million. This is because of governments and companies cut payrolls to try and deal with the debt and consumer spending. The unemployment rate increased a total of 1.2% since last year. Spain and Greece are at the center of the debt crisis, so this causes these two countries to have the highest unemployment rate in the Eurozone. These two countries are even higher in youth unemployment compared to other countries in the Eurozone.