NEW YORK TIMES: … Euro zone unemployment set another record in September, official data showed Wednesday, with 18.49 million people out of work in a weakening economy…
Spain, where the economy has been shellacked by a property sector collapse and government austerity measures, continues to have the highest jobless rate, at 25.8 percent. Greece, where the European sovereign debt crisis began, was next, at 25.1 percent in July, the most recent month for which data were available.
The euro zone economy is expected to have contracted again in the third quarter, following a 0.2 percent quarterly decline in the three months through June. With the global economy showing signs of slowing and European governments cutting spending to balance budgets, economists predict the contraction may extend into next year… (more)
