Michael GoldfarbJanuary 6, 2012 10:39

A Tale of Two Continents

Unemployment reaches record high in euro zone, while falling a bit in the U.S.

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Greek workers protesting last month about job losses. Unemployment in Greece is currently over 18 percent contributing heavily to record high levels of joblessness in the euro zone (LOUISA GOULIAMAKI/AFP/Getty Images)

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The good news first: the U.S. economy added 200,000 jobs last month. That dropped the headline unemployment rate to 8.5 percent from 8.7 percent. (The broader measure of unemployment, U6, which includes those out of work for more than 12 months and discouraged workers and those with part-time jobs who want full-time work remains in double digits).

Michael GoldfarbDecember 30, 2011 11:25

European financial markets say goodbye and good riddance to 2011

Major exchanges were up on the day but down for the year

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The twin symbols of the European economies catastrophic 2011: an Occupy protester outside the European Central Bank (Ralph Orlowski/AFP/Getty Images)

Europe's financial markets lost ground in 2011. Next year doesn't look much better as one of Europe's big economies, Spain, tries to halve its deficit by cutting spending and raising taxes

Michael GoldfarbDecember 29, 2011 08:40

Spain: Job seekers make the ultimate sacrifice

With employment opportunities virtually non-existent, young Spaniards are cleaning up to impress prospective bosses

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When it comes time to seriously look for a job the tattooed members of Spain's "indignados" movement will probably do what so many others are doing: get their tats lasered off. (PEDRO ARMESTRE/AFP/Getty Images)

When I left college and first got into the job market I shaved my beard and got a haircut. It was simple and relatively cheap. Today's youth have a more difficult time of it. They have added tattoos to the mix and getting rid of them is painful and pricey.

Michael GoldfarbDecember 29, 2011 06:01

French manufacturing base is contracting rapidly as a result of crisis

In the last three years hundreds of factories have closed and jobs permanently lost

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Despite all the protests and demands that government do something to save jobs, French manufacturing is going through the most severe period of de-industrialization in four decades with the loss of tens of thousands of jobs. (MARTIN BUREAU/AFP/Getty Images)

In the last three years hundreds of French factories have closed as a result of the economic crisis and tens of thousands of jobs have been permanently lost

Michael GoldfarbDecember 28, 2011 06:09

A tale of two nations: German optimism, British pessimism

German manufacturers say 2012 looks good, a new report predicts British unemployment rate will rise

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The euro may mean pain for some countries but it hasn't stopped Germany's star from continuing on the ascendant (BORIS ROESSLER/AFP/Getty Images)

German manufacturers say 2012 looks good, a new report predicts British unemployment rate will rise

Michael GoldfarbDecember 27, 2011 08:09

Spain is back in recession

Economy Minister says Spain has "relapsed" in the last quarter of 2011

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It's a tough job but somebody has to do it. Luis de Guindos arrives for his first day of work as Spain's Economy Minister (PEDRO ARMESTRE/AFP/Getty Images)

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Economy Minister says Spain has "relapsed" into recession in the last quarter of 2011. Further contraction is expected next year.

Michael GoldfarbDecember 20, 2011 05:58

Spain: sombre times ahead

New Prime Minister Mariano Rajoy tells Spanish Parliament the truth: things are bad and be prepared for them to get worse before they get better

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Mariano Rajoy, Spain's new Prime Minister, just before he addresses Parliament yesterday, looks like he's wondering what mess have I got myself into? (DANI POZO/AFP/Getty Images)

New Spanish Prime Minister Mariano Rajoy says times are tough and they will get tougher

Michael GoldfarbDecember 13, 2011 08:17

Finger pointing continues over Britain's "veto"

EC President Barrosso condemns Britain's negotiating stance at last week's summit

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EC President Jose Manuel Barrosso reports on last week's summit. He was diplomatic - but clearly unhappy with David Cameron (FREDERICK FLORIN/AFP/Getty Images)

David Cameron continues to reap the whirlwind over his actions at last week's EU summit

Michael GoldfarbNovember 29, 2011 12:56

British Austerity - the alternative to dealing with debt reduction - isn't working either

Chancellor of the Exchequer, George Osborne, admits to Parliament his deficit reduction plan has run off the rails.

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Chancellor of the Exchequer contemplates the numbers on his way to Parliament today (BEN STANSALL/AFP/Getty Images)

Britain's austerity plan hits the buffers. Borrowing is going up and so is unemployment. Recession is a real possibility, the government admits

US unemployment claims drop to lowest level since April

News DeskNovember 10, 2011 12:42

The figures indicate fewer redundancies, but are not yet evidence of job growth.