"There was lots of Eurozone news this week outside of the typical Greek default fodder. Nearly all of that news was not pretty. Let's take a look at the key stories.
Eurozone Unemployment Rate 10.7%, Highest Since 1999
The Telegraph reports Eurozone unemployment hits record high of 10.7pc
at http://globaleconomicanalysis.blogspot.com/2012/03/eurozone-wrapup-unemployment-rate-107.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29
Eurozone Unemployment Rate 10.7%, Highest Since 1999
The Telegraph reports Eurozone unemployment hits record high of 10.7pc
Data from Eurostat showed that the region lost 185,000 jobs in one month, with the vast gap between North and South growing ever wider. The figures for the previous four months were also revised upwards sharply. There are now more than 450,000 more people without jobs than assumed a month ago.
Klaus Baader from Societe Generale said the outlook was "deteriorating drastically" in the region. "Economic slowdown and fiscal austerity has hit the labour market much harder than previously thought."
Eurozone inflation nudged up to 2.7pc, while the latest PMI data for February confirmed that Euroland's manufacturing is still contracting, though the index rose slighty to 49. The "misery mix" of rising unemployment and inflation is a nasty headache for policymakers, threatening incipient stagflation..."
at http://globaleconomicanalysis.blogspot.com/2012/03/eurozone-wrapup-unemployment-rate-107.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29
