The number of Britons out of work rose to its highest level in more than 17 years in October, and these jobless figures look set to rise further as firms facing the threat of a renewed recession cut back on staff.
The US unemployment rate fell to a two and half year low of 8.6% in November and companies stepped up hiring, further evidence the economic recovery was gaining momentum.
Leaders of Spain’s indebted autonomous regions pledged on Thursday to control spending after meeting incoming Prime Minister Mariano Rajoy to discuss their troubled accounts, which are at the heart of the country’s economic crisis.
For the first time since data is recorded the number of people leaving Spain in search of better opportunities will be higher in 2011 than those incoming, according to the country’s stats office, INE.
Brazilian President Dilma Rousseff addressing the results of the G20 summit in Cannes, where Brazil was one of the countries represented said that job creation is a way to tackle economic crises.
Over 23 million are unemployed in the 27 countries of the Euro zone, the statistical office of the European Union Eurostat informed Monday.
Spain's unemployment hit a 15-year high in the third quarter with little hope new jobs will be created any time soon by a battered economy that remains at the forefront of investor concerns about Europe's debt commitments.
Ratings agency Standard and Poor's downgraded the long-term credit rating of Spain by one notch, knocking the Euro down by a third of US cent as it followed hard on the heels of a similar downgrade by Fitch last week.
Unemployment in Britain has jumped to its highest level since 1994, with young people hit hardest as private companies fail to make up for job losses in the public sector, piling pressure on the government to boost a stagnant economy.
The number of people filing for unemployment benefits in Spain shot up by nearly 100,000 in September, a surprisingly big increase even in a month that tends to be bad for workers as vacation season contracts expires.