ECONOMY: Worldwide jobless rate rising, labour group says

GENEVA — The global jobless queue will stretch to more than 200 million people this year, the International Labour Organization said in its annual report on Tuesday, repeating a warning it has made at the start of each of the last six years. The UN jobs watchdog estimates unemployment will rise by 5.1 million this year to more than 202 million, and by another 3 million in 2014, following a rise of 4.2 million in 2012.

GENEVA (Reuters) - The global jobless queue will stretch t

Global youth unemployment has risen to close to its crisis peak and will climb higher as the economic recovery falters, a report by a UN agency has warned. The International Labour Office said the youth unemployment rate had been falling since hitting 12.7% in 2009, but this year had climbed again to stand at 12.6%. The rate is forecast to reach 12.8% by 2018, reports The Guardian.

MADRID (Reuters) - More than six million Spaniards were out of work in the first quarter of this year, raising the jobless rate in the euro zone's fourth biggest economy to 27.2 percent, the highest since records began in the 1970s. The huge sums poured into the global financial system by major central banks have eased bond market pressure on Spain, but the cuts Madrid has made in spending to regain investors' confidence have left it deep in recession.

There was lots of Eurozone news this week outside of the typical Greek default fodder. Nearly all of that news was not pretty. Let's take a look at the key stories. Eurozone Unemployment Rate 10.7%, Highest Since 1999 The Telegraph reports Eurozone unemployment hits record high of 10.7pc