Europe’s Record Jobless Rate Seen Resisting Recovery

It initially planned some 8,000 cuts globally, a person familiar with the program told Bloomberg News in October. Earlier this month, Air France-KLM (AF) Group, Europes biggest airline, scrapped a plan to break even at its main French unit this year, putting 2,800 jobs in the country at risk. While most Southern European economies are struggling to provide work for the unemployed, the jobless rate in Germany , the regions largest economy, remained at 6.8 percent in September, according to 31 estimates in a separate Bloomberg survey . Thats close to a two-decade low of 6.7 percent. The Federal Labor Agency is due to publish these data tomorrow at 9:55 a.m. in Nuremberg. Resurgent Economy A robust job market and Germanys economic strength in the midst of the euro areas debt crisis helped Chancellor Angela Merkel s Christian Democrats take the largest share of the vote in Sept. 22 elections. German retail sales rose 0.5 percent in August from July, the Federal Statistics Office in Wiesbaden said today. That missed the median estimate of a 0.8 percent increase in a Bloomberg News survey of 26 economists. Gross domestic product in the 17-nation euro economy grew 0.3 percent in the three months through June, the first quarterly expansion after six contractions.

Europe’s Record Jobless Rate Seen Resisting Recovery: Economy

29. It initially planned some 8,000 cuts globally, a person familiar with the program told Bloomberg News in October. Earlier this month, Air France-KLM Group , Europes biggest airline, scrapped a plan to break even at its main French unit this year, putting 2,800 jobs in the country at risk. While most Southern European economies are struggling to provide work for the unemployed, the jobless rate in Germany, the regions largest economy, remained at 6.8 percent in September, according to 31 estimates in a separate Bloomberg survey. Thats close to a two-decade low of 6.7 percent. The Federal Labor Agency is due to publish these data tomorrow at 9:55 a.m. in Nuremberg. Resurgent Economy A robust job market and Germanys economic strength in the midst of the euro areas debt crisis helped Chancellor Angela Merkel s Christian Democrats take the largest share of the vote in Sept. 22 elections. German retail sales rose 0.5 percent in August from July, the Federal Statistics Office in Wiesbaden said today. That missed the median estimate of a 0.8 percent increase in a Bloomberg News survey of 26 economists.