Forecast: EU Jobless Rate Climbs Toward 10%

by Benjamin Domenech on 8:17 am March 18, 2009

BRUSSELS — The European Union’s unemployment rate is headed toward 10%, but governments see no immediate need for further fiscal-stimulus measures, European Commission President José Manuel Barroso said Tuesday.

The forecast came alongside news from Germany of a mild improvement in investor sentiment, clashing with a recent array of negative production and employment indicators. The Swiss government predicted its economy would fall at the fastest rate since 1975.

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