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Is Italy on a collision course with Europe?

Italy's fragile coalition government announced a raft of measures to boost its economy this weekend, but the package was conspicuous for the absence of spending cuts. The lack of measures could make it hard for the country to meet its deficit target and could put it on the path to conflict with Europe.

US hiring outlook positive, elsewhere not so much

More employers in the United States plan to hire workers next quarter than in any period since the fourth quarter of 2008, according to a survey by Manpower Group, the global employment services giant. 

The miserable plight of China’s millennials

HONG KONG — In America, things are finally starting to look up for the millennials. Unemployment has dropped, job prospects have brightened, and the economic hangover from the recession has begun to fade. In China, the headaches for the younger generation may have just begun.

World unemployment to hit record high in 2013

The ILO predicts record unemployment worldwide, with East Asia, South Asia and Sub-Saharan Africa hit hardest.

August Jobs reports disappoints

The Bureau of Labor Statistics released its jobs reports today, saying that while the US added just 96,000 jobs in August, 34,000 less than expected, the unemployment rate fell from 8.3 to 8.1 percent. Why?

The most underemployed big countries in the world

In the wake of today's US jobs number, here's a reminder that we could be doing a lot worse. We've rounded up the numbers and analysis from Buiter's team on the economies they cover that have unemployment rates higher than the US' 8.3 percent.

Spain's Rajoy confronts reality

The Spanish Prime Minister is backing a few steps away from his deficit reduction plan
Valencia demoEnlarge
A massive demonstration last week in Valencia Spain. It was in response to police violence against an earlier demonstration by students protesting austerity cuts to education, and youth unemployment. (JOSE JORDAN/AFP/Getty Images)

Mariano Rajoy was sworn in as Spanish Prime Minister just before Christmas and pledged to meet EU imposed budget targets for 2012/13 of reducing his country's deficit to 4.4 percent of GDP this year from an estimated 6 percent in 2011/12

Then he saw the books.

Then the EU's economists forecast a recession throughout the euro zone including a prediction that Spain's economy would shrink by more than 1 percent in 2012.


European austerity by the numbers: in or out of the euro zone today's figures are grim.

Statistics prove yet again: cutting alone will not help an economy

The European economic numbers flow across my computer screen, not quite as quickly as the ticker tape crawl at CNBC or Bloomberg, but there are a lot of them and virtually every one is bad. And in or out of the euro zone, they all point to the same thing: austerity isn't working.

In Greece: the economy contracted by 7 percent in the last quarter. Since austerity budgets began to be implemented two years ago Greece's debt had jumped from 115 percent of GDP to 166 percent of GDP, the Guardian reports.

In Britain: Unemployment is at 8.4 percent according to the Office of National Statistics, a 16 year high (I have reported on other sources of unemployment statistics here).


Work: those were the days in Britain

A new study compares the world of work in Britain at the start of Queen Elizabeth II's reign 60 years ago and today.
Unemployment is at a 17 year high, almost 1 in 5 households have no one working, the world of work in Britain today is very different from when Queen Elizabeth II took the throne. (Matt Cardy/AFP/Getty Images)

As Britain prepares to mark Queen Elizabeth II's Diamond Jubilee in June there will be many comparative studies to mark the changes to the country over the last 60 years but none is likely to match the power of the survey published today by the Chartered Institute of Personnel and Development. The CIPD is an international association for HR professionals and compiles statistics for its members.

In stark and unsentimental numbers it looks at British work life early in the Queen's reign and today.

The total number of Britons in work has risen from 23 million in 1959 to 29 million today. Sounds good. But breaking the numbers down further things aren't quite so rosy.

In 1959, 96 percent of working age men were employed. Only 4 percent worked part-time. Today, 75 percent of working age men are employed, 26 percent of them part-time.


Unemployment soars in euro zone, plummets in Germany

Berlin — Divergences between the European economies revealed by contrasting unemployment figures.
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