USA TODAY Unemployment across the 17 European Union countries that use the euro has hit another record high, the latest in a series of ignominious landmarks for the ailing single currency zone.
Eurostat, the EU’s statistics office, says Friday that unemployment rose to 12.2% in April from the previous record of 12.1% the month before. Another 95,000 people joined the ranks of the unemployed, taking the total to 19.38 million.
The figures mask big disparities among countries. While over one in four people are unemployed in Greece and Spain, Germany’s rate is down at 5.4%… (more)
EDITOR: Here we see austerity in action. Ultra conservative views triumphed over all we know about economics. The public once again were duped by clap trap about balancing the budget during a time when deficit fiscal spending is essential for recovery. We knew the cure; we simply have been adverse to using it. Thus we have been reliving a lesser version of the Great Depression which lasted a decade and only ended with the deficit spending triggered by massive expenditures on war equipment. How unnecessary. How tragic.
