Unemployment in the eurozone in May rose to 9.5% - the highest level since 1999, reported Bloomberg referring to data the Statistical Office of the European Union.

According to revised data, the April unemployment rate was 9.3%, not 9.2% as previously reported.
Analysts were expecting

raise that figure in May to 9.4%.

Despite the fact that the European economy, there are signs of stabilization after the recession, unemployment will continue to grow, the projections show EU and the Organization for Economic Cooperation and Development (OECD).

We expect that unemployment in the region will grow for some time, and this trend will continue next year - noted economist, Capital Economics Ltd. London Jennifer MakKeoun. - While we are getting signals easing the recession, the market Work will be abreast of developments in the economy as a whole.

On Wednesday, a Dutch financial company ING Groep announced its intention to dismiss another 800 employees in addition to the already announced the reduction of 7 thousand jobs. On plans to increase the cuts recently announced as the airline Air France-KLM.

According to the OECD, euro zone GDP to decline by 4.8% this year and in 2010 the economy of the region is waiting for stagnation. In this regard, the unemployment rate could reach 12% next year, and believe in the OECD.

European Commission expects that this figure will be 11.5% in 2010, while unemployment will be a maximum of Spain and Ireland. In May, unemployment in Spain was 18.7% in Ireland - 11,7%.