Job Market Monitor
Eurozone
Greeks are pulling euros out | ECB stops providing liquidity to some Greek banks | Reuters
The European Central Bank has stopped providing liquidity to some Greek banks as they have not been successfully recapitalized, the ECB said on Wednesday, confirming news earlier reported exclusively by Reuters. The news sent the euro lower against the dollar, fanning concerns among investors and in Greece that the country may have to leave the … Continue reading
Eurozone economy to shrink in 2012 dragged down by Greece, Spain, Italy …
The eurozone economy is forecast to shrink this year as its debt crisis continues to bite. The European Commission’s spring forecast confirmed its prediction of a 0.3% contraction in 2012 in the economies of the 17 countries that use the euro. It predicted growth of 1.0% for the eurozone in 2013. European Commissioner for Economic … Continue reading
The Euro Area Double Dip Recession
The latest reading of composite PMI for the 17-country region fell to 46.7 this month, even worse than an earlier flash reading of 47.4. Source: Read More @ The Euro Area Economy Is Deteriorating At A Disastrous Pace – Business Insider.
Euro area unemployment hits record high
Europe’s Unemployment statistics – March 2012 – Euro area unemployment rate at 10.9%, EU27 at 10.2% The euro area (EA17) seasonally-adjusted unemployment rate was 10.9% in March 2012, compared with 10.8% in February. It was 9.9% in March 2011. The EU27 unemployment rate was 10.2% in March 2012, stable compared with February. It was 9.4% in March 2011. Eurostat estimates that 24.772 million men … Continue reading
Spain enters in recession helped by austerity
Spain sank into recession in the first quarter and economists said spending cuts aimed at meeting strict EU deficit limits together with troubles in the banking sector would delay any return to growth until late this year or beyond. It is the second recession in just over two years for the euro zone’s fourth largest … Continue reading
A strong Euro | Is it only pride with prejudice ?
Why the Euro is kept too stong and is not at par with the U.S. $. Is it only a question of pride, with its immense prejudice in human terms ?
OECD | Unemployment rate was broadly stable 8.2% since January 2011
The OECD area unemployment rate was 8.2% in February 2012, and has remained broadly at this level since January 2011. But the euro area unemployment rate rose by 0.1 percentage point (for the eighth consecutive month) to 10.8% in February, maintaining a record high since the start of the global financial crisis. The unemployment rate … Continue reading
The Euro Crisis Rides Again
After a quiet-ish few months, Euro panic came back in a big way on Tuesday. Spanish stocks hit a three-year low. Spain’s bond yields crept back up above 6 percent. It wasn’t any better in Italy, whose stocks fell 5 percent. That’s a lot of bad news on a day with seemingly no new news. … Continue reading
How Unemployment Leave Europe’s Young ?
Larry Hatheway, Managing Director and Head of Global Asset Allocation, UBS Investment Bank, noted earlier this month that high levels of youth unemployment were “clearly undesirable” and policy priorities in the euro zone should shift the focus from managing the debt crisis to address joblessness. “Youth unemployment rates probably understate the true level of joblessness … Continue reading
Austerity Is a Disaster – The Atlantic
Euro zone unemployment just hit a 15-year high. German unemployment just hit a 15-year low. What can those of us across the Atlantic glean from this seemingly bipolar state of affairs? That austerity, every economic conservative’s favorite prescription for an ailing economy — the medicine Republicans here in the United States are pushing hard — is … Continue reading
European unemployment | Highest in 14 years and Youth Hit Hardest
“European unemployment increased to the highest in more than 14 years in February as companies from Spain to Italy eliminated jobs to weather the region’s crisis” writes Bloomberg. The euro area (EA17) seasonally-adjusted unemployment rate was 10.8% in February 2012, compared with 10.7% in January. It was 10.0% in February 2011. The EU27 unemployment rate was 10.2% in February 2012, compared with 10.1% in January. It … Continue reading
Europe | Unemployment rises to record 10.7% in Euro Zone and above 20% for Youth and in Spain
Europe’s leaders travel to Brussels on Thursday, hoping to chart the continent’s way back to growth as figures show unemployment in the 17-country eurozone has spiked to its highest level since the euro was established in 1999. While the two-day summit is for once taking place amid relative calm on financial markets, Europe’s population is … Continue reading
Global Economic Growth Momentum Turns Positive – IDEX Online News – IDEX Online Research:
Composite Leading Economic Indicators (CLI) in February points to a positive change in momentum for major geopolitical entities, according to the OECD. Previously, there has been little overall change in the Composite Leading Indicators, most of which were in negative territory. The Composite Leading Indicators’ positive momentum is being driven primarily by the United States … Continue reading
Eurozone enters ‘mild recession’ – RTÉ News
EU Economic and Monetary Affairs Commissioner Olli Rehn has said that Ireland’s economy is continuing to recover. Mr Rehn said that the EU-IMF bailout has contributed to the recovery through financial assistance and the restructuring and recapitalisation of the banking sector. This is despite figures showing an expected slowdown in exports and an increase in … Continue reading
Data Suggest Euro Zone May Slide Back Into Recession – EU Business News – CNBC
The euro zone’s service sector shrank unexpectedly this month, reviving fears that the economy risks sinking into recession, a business survey showed on Wednesday. Markit’s Eurozone Services Purchasing Managers’ Index (PMI) fell to 49.4 from January’s 50.4, missing even the lowest forecast in a Reuters poll of 44 economists whose predictions centred on a rise … Continue reading
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