EU Unemployment Hits Record High

Jobless lines in the euro zone reached a record high in October, with youths bearing the brunt of the debt crisis, according to data released Friday. The highest unemployment rates fell to Spain and Greece—both over 25 percent, with youth unemployment climbing toward an alarming 60 percent. Figures released Friday showed that the recession had pushed unemployment levels to the highest they’ve been since the introduction of the euro in 1999. A wee bit of good news: the annual inflation rate dropped more than analysts anticipated, though it is still above the European Central Bank’s target. Also, Germany approved the latest Greek debt deal to give the country €44 billion in rescue loans, without which the country would face bankruptcy and possibly be pushed out of the euro zone.