
EU Unemployment Soaring
The unemployment rate in the eurozone is soaring, with the rate now at 10.7% for euro-using countries. Spain and Greece have the highest rates.
Greece, which has been hit by rounds of austerity measures, had the second highest level of unemployment at 19.9%, with Spain earning the dubious honor of being at the top of the unemployment rates in the EU at 23.3%.
Spaniards have been hitting the streets by the thousands to protest the Spanish government's austerity reforms, which are making it easier for companies to fire workers.