According to the latest data released by European agencies, the total unemployment rate for Ireland touched 14.2 per cent during the month of February.

The unemployment rate across the 17 Eurozone nations increased to 12 per cent in February, which is its highest ever recorded since the launch of the currency in 1999. European Union's statistics office, Eurostat said that the total unemployment rate remained at 12 per cent in February.

Data showed that the total number of unemployed increased by a net 33,000 people in the area.

With an unemployment rate of 14.2 per cent, Ireland recorded the sixth highest level of unemployment in the entire Eurozone. Greece, Spain, Portugal, Slovakia and Latvia were the five countries that recorded higher unemployment rate than Ireland during the month. Spain and Greece recorded unemployment rates that were higher than 26 per cent during the month. The two countries are facing difficult economic conditions due to the prolonged sovereign debt crisis and unemployment rates are increasing to higher levels.

The latest data were released before the recent crisis in Cyprus, which recorded a lower unemployment rate than Greece for the month. However, experts have warned that the unemployment rate is likely to increase on the island nation in the coming months.