Eurozone's recovery hopes shaken as unemployment hits 9.2%

06/3/2009 | NYTimes.com

Joblessness in the eurozone climbed from 8.9% in March to 9.2% in April, dampening optimism about a speedy economic recovery. "Sharply higher, rising unemployment will weigh down on eurozone consumer spending, especially as it will be liable to lead to slowing wage growth," said Howard Archer, an economist at IHS Global Insight.

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