Jobseekers stand in line to attend the Dr. Martin Luther King Jr. career fair held by the New York State department of Labor in New York April 12, 2012. REUTERS/Lucas Jackson.
Global economy struggles
European growth collapses: the euro zone is forecast for its deepest downturn since early 2009. Unemployment in Spain reaches 25 percent.
The United States grows very slowly, but millions are unemployed as it approaches a “fiscal cliff” – tax rises and spending cuts that may go into effect in 2013.
Growth in India and China slows. Goldman Sachs’ Jim O’Neill expects China, the world’s second largest economy, to post around 7 percent annual growth for the next decade, down from the past decade
Read articles:
Euro zone faces deepest downturn since 2009
Key elements of U.S. fiscal cliff
Goldman sees China’s growth slowing to 7 percent for next decade
Jobseekers stand in line to attend the Dr. Martin Luther King Jr. career fair held by the New York State department of Labor in New York April 12, 2012. REUTERS/Lucas Jackson.
Juan Carlos Castano, 43, in his emptied-out bedroom as he waits for the judicial commission to carry out his eviction in Madrid Sept. 28, 2012. A quarter of all Spanish workers are unemployed and tens of thousands have been evicted from their homes since a housing bubble burst in 2008. REUTERS/Susana Vera
A woman sits in front of a window display in downtown Rome December 4 , 2012. REUTERS/Tony Gentile.
Confiscated luxury cars are seen inside a warehouse of ODDY, the Public Property Management Organisation, in Athens September 5, 2012. ODDY ran warehouses nationwide that auctioned off anything from old sofas discarded from city hall waiting rooms to luxury cars confiscated from drug dealers. REUTERS/John Kolesidis.
localtemp