Summary Box: Euro unemployment hits 10.8 percent

AP News
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Posted: Apr 02, 2012 12:58 PM
Summary Box: Euro unemployment hits 10.8 percent

JOBLESS RISING: Unemployment in the 17 countries that use the euro hit the highest level since the currency was introduced in 1999, rising to 10.8 percent in February.

U.S. CONTRAST: A bigger-than-anticipated downturn in the manufacturing sector added to the gloom. A purchasing managers' index gauging business activity fell to a three-month low in March

RECESSION AT HAND? The eighth straight month of rising unemployment will likely reinforce concerns that the eurozone is in recession just as many countries pursue austerity measures to get a handle on crippling debt loads.