The European Union’s statistics agency, Eurostat, reported on Wednesday that there was stagnancy in Europe’s labor market in November. But a ray of hope was offered by the retail sector, as surge was seen in sales during that period. But when it come to unemployment rate is concerned in Europe, it is 12.1%, which is a record high.

The rate has remained high since April last year. The region was badly impacted by the sovereign debt crisis and the economy fell into a shambles. As a result, the unemployment rate soared from just under 10% in early 2011 to the current high level. The rate seen in November was as per expectations of economists.

European Union comprises 28 member states. And the jobless rate for the same as a whole remained unchanged at 10.9%.

Because of lack of skilled applicants, nearly half of information technology jobs were taken by foreign workers in Dublin.

Lack of technology skills has exacerbated the rates of jobless people. It has been more than five year now when the debacle of Lehman Brothers in 2008, led to a global financial collapse, but Europe’s economy has not been able to diametrically cope with it. It has been issuing bailouts to many struggling firms so that they recuperate from the bad impacts of crisis.