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Spain sees stronger economic outlook in 2014-15

Spain forecast Wednesday faster economic growth in the next two years as the nation emerges from a long downturn with unemployment still topping 26 percent. Economy Minister Luis de Guindos said the eurozone's fourth-largest economy would expand by an average of 1.5 percent in 2014 and 2015. "It is a substantial change," he told a meeting of Spanish financial journalists. Until now, the government's official forecast has been for economic growth of 1.0 percent in 2014 and 1.5 percent in 2015.

Mexico's unemployment rate rises to 4.8 pct.

Mexico City, Apr 22 (EFE).- Mexico's unemployment rate rose to 4.8 percent in March, the National Institute of Statistics and Geography, or INEGI, said Tuesday. The unemployment rate stood at 4.51 percent in March 2013, the INEGI said. The unemployment rate last month was 5.25 percent, without adjusting for seasonal factors, well above the 4.81 percent rate registered in the previous month.

Mexico's unemployment rate rises to 4.8 pct.

Mexico City, Apr 22 (EFE).- Mexico's unemployment rate rose to 4.8 percent in March, the National Institute of Statistics and Geography, or INEGI, said Tuesday. The unemployment rate stood at 4.51 percent in March 2013, the INEGI said. The unemployment rate last month was 5.25 percent, without adjusting for seasonal factors, well above the 4.81 percent rate registered in the previous month.

Jobless rate still good gauge of slack: Fed study

SAN FRANCISCO (Reuters) - The U.S. jobless rate in recent years has been a good gauge of slack in the economy, according to a paper published Monday by the Federal Reserve Bank of San Francisco that takes aim at critics who have argued otherwise. Indeed, the unemployment rate has responded to GDP growth since the financial crisis in essentially the same way that it has in every recession since the 1970s, the paper's authors found, rising when economic output slows, and falling when it speeds up.

British unemployment rate falls under 7.0%

British unemployment has hit a five-year low of 6.9 percent, far below most of its European rivals, as the nation's economic recovery picks up speed a year before general elections. The rate for the period beginning December through February compares with 7.2 percent for the quarter ending January, the Office for National Statistics (ONS) said in a statement. The drop beat analysts' consensus forecast of a retreat to 7.1 percent. "The UK labour market is improving and improving fast," said Daniel Vernazza, economist at UniCredit Research.

British unemployment rate drops below 7.0%

Britain's unemployment rate dropped to a five-year low point of 6.9 percent in the quarter to February, as the country's economic recovery picks up speed before next year's general election. The rate dropped from 7.2 percent in the quarter to January, the Office for National Statistics said in a statement, while the fall was bigger than expected with analysts forecasting a drop to 7.1 percent.

Words, charts, numbers all fail Fed: James Saft

(James Saft is a Reuters columnist. The opinions expressed are his own) By James Saft (Reuters) - Since neither words, nor charts nor numbers seem capable of expressing when the Fed will raise interest rates, perhaps they need to adopt some new kind of symbol. What's the symbol for "The first day of never"? Didn't Prince already use that? Seriously, the Federal Reserve seems most comfortable with that which expresses the least specific meaning.

Surprise fall in Australian unemployment

Australian unemployment fell below 6.0 percent in March, official data revealed Thursday, surprising analysts who had expected a higher figure and raising hopes that the jobless rate may have peaked. The Australian Bureau of Statistics said unemployment dropped from a revised 6.1 percent in February to 5.8 percent aided by a 40,200 lift in part-time positions, which offset a fall in full-time jobs. "The number of people employed increased by 18,100 to 11,553,200 in March," the bureau said.

U.S. job openings hit six-year high in February

By Lucia Mutikani WASHINGTON (Reuters) - U.S. job openings jumped to their highest in six years in February and there was a significant decline in layoffs, more signs of a steadily improving labor market. Job openings, a measure of labor demand, increased 299,000 to a seasonally adjusted 4.17 million, the Labor Department said in its monthly Job Openings and Labor Turnover Survey on Tuesday. That was the highest level since January 2008.

A tale of 2 employment surveys, covering US households and businesses, at a glance

The U.S. economy added 192,000 jobs in March, a respectable gain that would typically be enough to lower the unemployment rate. Yet the rate was unchanged at 6.7 per cent. Why did the unemployment rate remain the same if the job gain was solid? Because the government conducts one survey to learn how many jobs were created and another to determine the unemployment rate. The two surveys can sometimes produce differing results.
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