Joblessness in Eurozone Reaches 12.2%

The situation in Europe continues to spiral as unemployment has jumped again. While inflation has remained low, the situation is still tenuous, especially as France and Britain are on the edge of recession.

That rise may quieten concerns about deflation, but the deepening unemployment crisis is a threat to the social fabric of the euro zone. Almost two-thirds of young Greeks are unable to find work, exemplifying southern Europe's 'lost generation'.