Send Article via Email

(Reuters) - Euro zone joblessness has reached a new high and the poor state of the economy is reducing inflation to near two-year lows, raising the prospect of further interest cuts by the European Central Bank.

As the euro zone sinks into its second recession since 2009, the number of people out of work in the euro zone rose by 173,000 people in October to almost 19 million people unemployed, the EU's statistics office Eurostat said on Friday.

That pushed joblessness to the highest level since the euro was introduced in 1999, at 11.7 percent of the working population, illustrating the human impact of a public debt and banking crisis that has reverberated across the world.

More from MND:

• MBS Commentary: MBS RECAP: Another Hopeful Morning Dashed by Defensive Reality
• Mortgage Rate Watch: Mortgage Rates Near 2013 Highs to Start Week
• MND NewsWire: MBA Highlights Opportunity For Private Capital Risk-Sharing With GSEs
• MND NewsWire: Fannie Forecast Serves up Feast for Housing Recovery Bulls
• MND NewsWire: Delinquencies to Decrease Slightly, Price Appreciation Sustainable -FICO Survey

If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.