By Steve Goldstein, MarketWatch
LONDON (MarketWatch) -- Unemployment in the 16-nation euro zone reached 10% in November, the highest level in eleven years.
According to data from Eurostat, unemployment rose to 10% to from 9.9% in October. Economists had forecast November unemployment of 9.9%.
Over 15.7 million people were unemployed, and in the broader 27-nation European Union, there were 22.9 million people unemployed.
Unemployment was a staggering 19.4% in Spain, which has been reeling from the burst of a house price bubble.
Irish unemployment was 12.9%, French unemployment was 10%, Italian unemployment was 8.3% while German unemployment was 7.6%.
Other economic data have pointed to a mixed economic picture.
Manufacturing and services-sector purchasing-managers' surveys have been showing robust expansion. But retail sales dropped 1.2% in November, as spending is frequently held back in periods of high unemployment.
