EU: High Unemployment ' Representing ' Europe Pereknomian

Monexnews-European zone's economy will shrink for the second year by 2013, driven by high rates of unemployment as the Government, consumers and companies are limiting its expenditure, said the European Commission.

The GDP of the 17-country European zone will go down by as much as 0.3 percent this year, worse than its previous forecast in November that said it would grow by 0.1 percent, said the European Commission on this day. The unemployment rate surged to 12.2 percent will, up from the previous estimate of 11.8 percent and the previous year at 11.4 percent, they said.

"The labour market is a serious problem", said Marco Buti, head of the Ministry's Economic Commission in his statement. " It has serious social consequences and it will happen, if the unemployment rate became entrenched problems, because it can also overload the perspective of growth in the future. "

The European zone of helplessness due to fragile public finances and banking rentannya, said Buti. Weak economy as opposed to recovering financial markets, along with the States, banks and households continue to improve their balance sheets and suspended new requests.

(fsyl)

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Fed's Bullard Optimistic unemployment rate Reached 6.5% next year

Monexnews-the unemployment rate will drop below 6.5% in June 2014, according to the President of the St. Louis Federal Reserve Bank, James Bullard. The Level has been set as the target for the Fed to consider a rise in interest rates.

In a speech at New York University's School of Business on Thursday, Bullard says that the unemployment rate is a key signal the health of the labor market, though still needed more data to decide policy tightening.

Fed policy makers have previously said that the level of 6.5% penganguran would not immediately trigger a rise in interest rates, but it will encourage discussion of potential next steps. (vid)

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Us unemployment claims Surged By 20,000

Monexnews-the number of u.s. citizens applying for unemployment benefits surged 20,000 new be 362,000 in the week ending on February 16 and then, according to the U.S. Labor Department reports.

Those results were worse than expectations of a rise of 355.000 economists. The previous week's figure also was revised up from a thin 342.000 341.000 prior publication. However, the increase in the claims still indicated a slow but steady growth in the U.S. labor market.

Some analysts have argued if the federal holiday on Monday and may have affected the calculations, that makes data from four States, including California and Virginia, could not be finished on time and had to use estimation.

While the average new claims in four weeks, which is considered more accurately depicts the U.S. labor market trends, rose by 8,000 to the highest level since the beginning of the year 2013 be 360.750. (vid)

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Euro Hit By Unemployment Data Portugal

Monexnews-the Euro slipped versus the U.s. Dollar as unemployment figures in Portugal to merangsek the highest level throughout the history of the block 17-State. The unemployment rate in Portugal surged to 16.9% from 15.8% in Q3, according to the report the National Statistics Institute in Lisbon. The Euro has the potential to be further depressed if growth data Thursday showed the economies in the region are increasingly shrinking in the last quarter of last year.

"The Prime Minister of Portugal showed a sharp rise in concern over the unemployment rate, which was released a day before the Euro zone growth data," said Joe Manimbo, a market analyst at a Western Union Business Solutions in Washington D.C. "the anxiety on the economy appears to be starting to come to the surface again." (vid)

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