EU Unemployment at Record High

    SAN FRANCISCO, CA - MARCH 27:  A job seeker fills out a registration form as he waits to enter the San Francisco Hirevent job fair at the Hotel Whitcomb on March 27, 2012 in San Francisco, California. As the national unemployment rate stands at 8.3 percent, job seekers turned out to meet with recruiters at the San Francisco Hirevent job fair where hundreds of jobs were available.  (Photo by Justin Sullivan/Getty Images)

    Justin Sullivan / Getty Images

    The latest U.S. jobs report may be dismal, but it’s nothing compared to the slump overseas. Euro-zone unemployment hit a record high Friday as the deepening debt crisis prompts companies from Spain to Italy to cut staff, and budget cuts prevent businesses from hiring new workers. The EU’s statistics office Eurostat confirmed Friday that the jobless rate climbed to 11 percent in April and March—the highest since unemployment records began in 1995.

    Read it at Reuters