US v EU Unemployment

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Bloomberg.com – Euro-Area Unemployment Reaches Record 11%, Led by Spain
The jobless rate in the 17-nation euro zone was at 11 percent in April and March, the European Union’s statistics office in Luxembourg said today. That’s the highest since the data series started in 1995. The March figure was revised higher to 11 percent from 10.9 percent estimated earlier. … Spain, whose government is struggling to contain a banking crisis, had the bloc’s highest unemployment rate at 24.3 percent, up from 24.1 percent in March, today’s report showed. In France, the jobless rate rose to 10.2 percent from 10.1 percent, while Italy reported the same increase. Portugal’s rate reached 15.2 percent, up from 15.1 percent.

Source: Bianco Research

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