The bizarre recent market optimism has gone down the drain today. On top the dreadful U.S. employment numbers, the eurozone's unemployment rate reached the highest level since the Euro was created 13 years ago.
The rate has risen to 11% in April. Employers cut 110,000 jobs.
In the larger 27-nation area that makes up the European Union the rate also rose to 10.3% in April, the highest EU unemployment rate on records that go back to 2000.
Staggering Figures. There were 24.7 million unemployed in the EU in April, 17.4 million in the eurozone.
Friday, June 1, 2012
Posted by The Shocked Investor at 2:23 PM
- 28 Banks Downgraded, Yields Double
- Big Bad Banks Downgraded
- Euro Bailouts: A Giant Ponzi Scheme; At the End of...
- European Bailout Drawing From From ESM, What ESM?
- The Great Bailout Dellusions: Gone faster and Fast...
- Like A Broken Record: Spain Downgraded Again, Near...
- Investing in 2012: 6 Months Later... Back to Squar...
- Eurozone Unemployment Hits All-Time High
- Unemployment Ticks Higher Again Sinking Silly Mark...
- ▼ June (9)
- ► 2011 (510)
- ► 2010 (1051)
- ► 2009 (843)
- ► 2008 (59)