EU says euro area unemployment to hit postwar record

BRUSSELS — Europe is suffering “a deep and widespread recession,” the EU said today, estimating that unemployment in the 16 countries that use the euro currency will rise to a postwar record of 11.5 percent by the end of next year.

The EU’s executive said both the 27-nation EU and the 16 countries that use the euro currency will shrink by 4 percent this year, more than double its January estimates...

READ MORE