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Spanish unemployment nears 25%

Madrid (AFP) – Spanish unemployment is now near one quarter of the workforce, fuelling fears the country might need a costly bailout as the IMF issued its latest report on the eurozone’s fourth biggest economy. The unemployment rate rose in the second quarter to 24.63 percent of the workforce and to a huge 53 percent …

Daily News Egypt

Bernanke predicts slow drop in US unemployment

Washington (AFP) — Federal Reserve Chairman Ben Bernanke admitted Tuesday that US economic data had been “disappointing” and that a future reduction in unemployment would likely prove “frustratingly slow.” Dealing a blow to Barack Obama and others hopeful for an improvement in economic news ahead of November’s presidential elections, Bernanke offered a gloomy assessment of …

Daily News Egypt

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