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Weakening Growth Fundamentals

April 16, 2009
Job Loss Impact

Job Loss Impact

UNEMPLOYMENT is accelerating in many countries as companies shed jobs in an attempt to survive the global recession. On Tuesday April 14th, Russia’s president Dmitry Medvedev said he was “deeply alarmed” that unemployment levels were rising more rapidly than forecast, to reach 8.5% in February. This week Greece announced that unemployment had risen from 8.9% in December to 9.4% in January. Spain’s economy has crashed since its housing and construction boom ended. In four months unemployment rose nearly three percentage points to stand at 15.5% in February. Countries in severe financial trouble, such as Latvia, Iceland and Estonia have also seen rates rise rapidly.

via The Economist

Jump Up Update: For those who have read and bore the torture of my vitriolic post yesterday, I apologize. But to make it up, I will try to post some charts and some of my own insights

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