Europe’s Recovery Diverges as Italy Jobless at Record: Economy
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Europe’s two-speed economy was underscored in data today showing strengthening in the German labor market just as Italy’s jobless rate reached a record.
Overall euro-area unemployment was at 11.9 percent in February, lower than the 12 percent median forecast of 32 economists in a Bloomberg News survey. In Italy it rose to 13 percent, while in Germany the locally defined jobless rate for March stayed at the lowest in at least two decades.