January 9, 2010

MORE ECONOMIC GLOOM, FROM THE FINANCIAL TIMES: Jobs gloom hits west’s recovery hopes. “Grim jobs market reports on both sides of the Atlantic on Friday highlighted the ongoing human cost of the credit crisis and kept alive concerns over the sustainability of the recovery. In the US, news that the economy shed another 85,000 jobs in December dashed hopes that a quickening labour market turnround could add momentum to the rebound and make it more robust. Meanwhile, eurozone data showed unemployment hit 10 per cent in November – matching the jobless rate in the US. It was the first time that eurozone unemployment has hit double digits since the introduction of the single currency a decade ago.”

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