"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Thursday, May 3, 2012

Eurozone Unemployment Hits Record High

Eurozone Unemployment Hits Record High
ABC News
Eurozone unemployment rose by 169000 in March, official figures showed Wednesday, taking the rate up to 10.9 percent — its highest level since the euro was launched in 1999. The seasonally adjusted rate was up from 10.8 percent in February and 9.9 ...

ABC News

Grand plan to save Europe is unraveling
msnbc.com
In Spain, which sank back into recession in the first quarter, the unemployment rate hit 24.1 percent in March, a level not seen in eurozone data stretching back to 1986. By John W. Schoen, Senior Producer Europe's two-year-old strategy of austerity ...

msnbc.com

Eurozone jobless benefits vary widely
Boston.com
LONDON—Unemployment benefits across the 17-country eurozone, where joblessness has hit a new record of 10.9 percent, vary considerably. In some countries, welfare payments have been cut recently as part of austerity measures introduced to bring ...

Euro zone unemployment at record high 10.9%
Los Angeles Times
By Tiffany Hsu Unemployment in the 17 countries that make up the euro zone was at a record high of 10.9% in March, according to a new report that likely has incumbents in Sunday's elections breaking into a cold sweat. The jobless rate is up from 10.8% ...

Eurozone unemployment hits record 10.9%
CNNMoney
By Chris Isidore @CNNMoney May 2, 2012: 10:15 AM ET NEW YORK (CNNMoney) -- Unemployment in the eurozone rose to 10.9% in March, another sign of the broad economic weakness and possible recession across the continent. The unemployment rate across the ...

Unemployment Reaches Record High in Euro Zone
New York Times
FRANKFURT — Unemployment in the euro zone rose to a new high in March, according to figures released on Wednesday, which came a few days before crucial elections in France and Greece, and which are likely to intensify calls for an easing of the ...

New York Times

Euro-Zone Manufacturing Slumps As Unemployment Matches Record High
Wall Street Journal
By Ilona Billington and Paul Hannon LONDON (Dow Jones)--The euro zone's manufacturing sector shrank at the sharpest pace in almost three years in April, while its unemployment rate rose to match a record high in March as 169000 people lost their jobs.

Euro-Zone Jobless Rate Continues To Climb
Wall Street Journal
The continued rise in unemployment is likely to damp consumer spending in coming months, and limit the euro-zone economy's ability to grow rapidly. It is also likely to fuel discontent with the austerity programs now in place in most euro-zone members.

Euro-Zone Data Point To Continued Contraction
Wall Street Journal
By ILONA BILLINGTON LONDON—The euro zone's manufacturing sector shrank at the sharpest pace in almost three years in April, while its unemployment rate rose to match a record high in March as 169000 people lost their jobs. The grim data indicate that ...

Euro zone unemployment equals record high in March
Reuters
BRUSSELS (Reuters) - Unemployment in the euro zone rose to 10.9 percent in March, equaling the record high of 15 years ago, data showed on Wednesday, driven by rises in Italy and Spain. The jobless rate in the 17 nations using the single currency ...

Euro-Zone Economic Woes Deepen
Wall Street Journal
By ILONA BILLINGTON And PAUL HANNON LONDON—Business activity in the euro zone'smanufacturing sector shrank at the sharpest pace in almost three years in April, according to a closely watched survey, and the currency area's unemployment rate rose in ...

ECB options limited as it faces fading eurozone economy, social unrest at ...
Washington Post
That lack of options puts more urgency into ECB president Mario Draghi's recent call for Europe to agree on a “growth compact” to find a lasting path to recovery, and more pressure oneurozone governments to fix budgets and cut burdensome regulation.

Weak Euro Zone Helps Dollar Even More
Wall Street Journal
This all came just before a new wave of pessimism about economic developments in the euro zone as well as in parts of Asia. In the case of the euro zone, the focus was very much on the sharp fall in the purchasing managers indexes for country's such as ...

Eurozone Manufacturing Deteriorates Further in April
Fox Business
Euro zone factories sank further into decline last month but manufacturers in Asia upped their tempo to meet growing demand from the United States and China, exposing a widening gulf between Europe and the rest of the world.

US STOCKS-Futures slip on euro zone data; ADP jobs on tap
Reuters
ADP employment, factory orders data on tap * Euro zone manufacturing slips * Futures off: Dow 20 pts, S&P 3.5 pts, Nasdaq 8 pts By Chuck Mikolajczak NEW YORK, May 2 (Reuters) - US stock index futures slipped on Wednesday, a day after the Dow closed at ...

FOREX-Euro knocked by euro zone factory gloom
Reuters
The euro was also hurt by data that showed the euro zone labour market continued to worsen as unemployment rose to match its record high of 10.9 percent last seen 15 years ago. The focus later on Wednesday will shift to US private payrolls figures due ...

Eurozone voters query closer integration
Financial Times
By Peter Spiegel in Brussels Almost two years ago, just as the eurozone debt crisis was intensifying, a group of senior European officials sat down behind closed doors with some of the region's leading thinkers to discuss ways resolve the crisis ...

Eurozone unemployment adds to gloom ahead of polls
The Guardian
There was also evidence that businesses are being hit by what many analysts expect to be a eurozone-wide recession. The manufacturing PMI for the zone in April – a measure of confidence among businesses – registered a sharp decline, from 47.7 to 45.9, ...

The Guardian

East EU manufacturing slips, euro zone a drag
Reuters
By Michael Winfrey | PRAGUE (Reuters) - Manufacturing in the European Union's emerging east contracted in April, following a faster-than-expected drop in its main target markets in the euro zone and painting a grim picture for economies which hope ...

US STOCKS-Wall St set to open lower on euro zone, ADP data
Reuters
ADP employment misses forecast * Euro zone manufacturing slips * Futures off: Dow 54 pts, S&P 6.5 pts, Nasdaq 14 pts By Chuck Mikolajczak NEW YORK, May 2 (Reuters) - US stocks were set for a lower open on Wednesday as a weaker euro zone report sparked ...

Euro zone unemployment rate hits record 10.9% in March as fiscal austerity ...
GlobalPost
A number of euro zone countries are in recession -- or are very close to it. Spain slipped back into recession in the first quarter, Aljazeera said, citing data released Monday, after its unemployment rate rose to nearly 25 percent.

ECB WATCH: ECB To Keep Rates Steady As Inflation High, Economy Weak
Wall Street Journal
By Margit Feher Of DOW JONES NEWSWIRES FRANKFURT (Dow Jones)--The European Central Bank is expected to keep interest rates unchanged Thursday as it confronts stubbornly high inflation and the specter of prolonged recession in the euro-zone.

ECB To Keep Rates Steady As Inflation High
Wall Street Journal
By MARGIT FEHER FRANKFURT—-The European Central Bank is expected to keep interest rates unchanged Thursday as it confronts stubbornly high inflation and the specter of prolonged recession in the euro-zone. All 47 banks and think tanks polled by Dow ...

ECB Has One Hand Tied Behind Its Wallet
Wall Street Journal (blog)
Markit's manufacturing PMI for the euro zone as a whole dropped to 45.9 in April from 47.7 a month earlier. That's as low as it's been since the summer of 2009. The slowdown stretches right across the euro zone; not only is the periphery contracting ...

GLOBAL MARKETS-Stocks hit by euro zone, US data; euro slides
Reuters
Weak euro zone manufacturing, US ADP weigh * Euro falls as market focuses on prospects for ECB move * US stocks open lower, Treasuries advance By Wanfeng Zhou NEW YORK, May 2 (Reuters) - Global stocks and the euro fell on Wednesday after disappointing ...

Unemployment tests eurozone austerity drive
Financial Times
By Ralph Atkins in Frankfurt Relentless rises in eurozone unemployment, which official data on Wednesday showed had never been higher since the euro's launch, will intensify pressure for a broader European growth strategy less focused on fiscal ...

Analysis: Money managers and voters align in Europe
Reuters
By Mike Dolan | LONDON (Reuters) - Global investors and European voters, seeming adversaries through two years of non-stop euro crisis, now appear to be reaching the same conclusion: austerity-induced recession can't be the only solution to the ...

Eurozone Crisis: Joblessness Hits Record High
Sky News
Unemployment in the 17 countries that use the euro has reached a record high,reflecting the strength of the eurozone's spreading recession. Official figures show joblessness across the single currency bloc rose by 169000 in March, taking the rate up to ...

Jobless rise adds to eurozone concerns
Financial Times
By Ralph Atkins in Frankfurt Eurozone unemployment has surged to a record level, highlighting the region's weakening economy in the face of fiscal austerity measures and its increasing divergence from the US. Joblessness across the 17-country region ...

Financial Times

Eurozone manufacturing slumps further in April, worse than forecast
New York Post
LONDON -- The eurozone's manufacturing sector contracted at the sharpest pace in almost three years in April, data revealed Wednesday, indicating that the currency area's economy is likely to continue to contract. The decline in manufacturing activity ...

Eurozone Unemployment Hits 10.9 Percent, A Record High
By The Huffington Post News Editors
LONDON — Pressure is growing on Europe's leaders to focus less on austerity and more on stimulating growth as the 17 countries that use the euro face record high unemployment and a recession that is spreading across the region.
The Huffington Post | Full News Feed

Eurozone Economy Slows Down
By Chuck Butler
Chuck Butler discusses various economic data, specifically the downturn in the Eurozoneeconomy and the currency moves based on the RBA rate cut.
The Daily Reckoning

Eurozone unemployment hits record 10.9 percent | The Raw Story
By Agence France-Presse
Eurozone unemployment spiked to a record 10.9 percent in March, piling pressure on governments on Wednesday to shift from austerity-first to growth policies so as to revive the economy. The figures, up from 10.8 percent in February, ...
The Raw Story

Eurozone Unemployment - Business Insider
By Joe Weisenthal
Eurozone unemployment has risen to 10.9%. That's a new Eurozone-era high. It's also right in line with expectations. The previous month was 10.8%. The full report can be downloaded here. Here's the key chart comparing the Eurozone with ...
Clusterstock

French Politics: Eurozone Unemployment Record
By Art Goldhammer
Le taux de chômage dans la zone euro a atteint en mars son plus haut niveau, à 10,9 % de la population active, égalant le record d'avril 1997, a indiqué mercredi 2 mai Eurostat. Selon l'office des statistiques européen, 17,36 millions de ...
French Politics

Calculated Risk: Over There: Euro zone unemployment rate rises to ...
By CalculatedRisk
Unemployment in the euro zone rose to a new high in March, according to figures released Wednesday, which come a few days before crucial elections in France and Greece, and which are likely to intensify calls for an easing of the region's ...
Calculated Risk

Brad DeLong: European Financial Crisis Blogging: Hope is Not a ...
By J. Bradford DeLong
I feel as though I am sitting through a Charlie Kindleberger lecture about Europe in the early 1930s. Every country thinking that the global and continental level of aggregate demand was somebody else's business. Every country thinking that if ...
Brad DeLong

NewsDaily: Euro zone unemployment equals record high in March
Unemployment in the euro zone rose to 10.9 percent in March, equaling the record high of 15 years ago, data showed on Wednesday, driven by rises in Italy and Spain.
NewsDaily: Top Headlines

Worst of euro crisis is over but challenges remain - ADB
ADB president Kuroda says challenges linger but he does not 'expect serious impact on Asia in the near future'
RAPPLER

CEE: PMI data point to eurozone drag | beyondbrics | News and ...
By Jan Cienski
beyondbrics, from the Financial Times, brings news and comment from more than 40 emerging economies, headed by China, India, Brazil, Russia, Mexico, Indonesia and South Africa. We cover politics and economics, finance and business ...
beyondbrics

Euro zone manufacturing PMI falls unexpectedly By Forexpros
By Forexpros
Euro zone manufacturing PMI falls unexpectedly. ... In a report, research group Markit said theeuro zone's manufacturing PMI fell to 45.9, from 46.0 in the preceding month. Analysts had expected the euro zone's manufacturing PMI to remain ...
Forex Pros RSS News Feed | Forex News

Europe, the Eurozone Crisis and the French Presidential Elections ...
By eudo
Date: 11th May 2012. Time: 12pm–2pm. Venue: Europe House, Smith Square, London SW1P 3EU. Europe and the world have changed fundamentally since French voters last went to the polls to elect a new President in 2007. Global financial ...
The EUDO Café

Fuel Fix » Jobless rise adds to eurozone concerns
By FT.com - Energy
Jobless rise adds to eurozone concerns. ... Eurozone unemployment rises for the 11th consecutive month to a fresh euro-era high, adding to pressure on the European Central Bank. Read more from Financial Times ...
Fuel Fix

Unemployment at Record High in Euro Zone – New York Times ...
By Wall Street Examiner Newswires
CTV.caUnemployment at Record High in Euro ZoneNew York TimesFRANKFURT — Unemployment in the euro zone rose to a new high in March, according to data rele...
The Wall Street Examiner

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