Investor Alert

July 3, 2013

The countries with the highest unemployment

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The U.S. unemployment rate continues to tick down, but employment woes of Europe are nowhere near over. According to figures released Tuesday by Eurostat, the statistical agency that measures the European nations, the U.S. and Japan, the unemployment rate in the euro area hit a record high in May, rising one-tenth of a percentage point to 12.2%, and increasing almost a full percentage point over the prior year. On Friday, the U.S. Department of Labor will report on employment for June, and economists polled by MarketWatch expect the unemployment rate to decline to 7.5% from 7.6%. 24/7 Wall St. reviewed employment data for the countries measured by Eurostat because they are primarily developed nations. While other countries have higher unemployment rates than the countries on this list, the residents of developed nations rely on services from their governments that don't exist in developing nations. Unlike most developing countries, government assistance becomes a costly burden when unemployment rises in developed countries. From 24/7 Wall St., these are the countries with the highest unemployment rates:

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