Italy’s stunned political parties searched for a way forward after an inconclusive election gave no one a parliamentary majority. Financial markets fell sharply at the prospect of a stalemate and threatening prolonged instability and a renewal of the European financial crisis. Today’s graphic is a snapshot of the Italian economy using eight key economic indicators.
The U.S. Labor Department reported that the economy added 157,000 jobs in January and also published revisions to its payrolls data going back to 2008. In 2012 alone, 335,000 more jobs were created than previously reported.
01 Feb 2013Thomson Reuters
The jobless rate rose to 7.9% in January. However, the percentage of unemployed who have been out of work 27 weeks or longer fell to 38.1% and the average unemployment duration dropped 35.3 weeks, the lowest since December 2010. (more…)
Weak Japan economic data bolsters new Prime Minister Shinzo Abe more ammunition to push for big spending and easy money to salvage the world’s third largest economy from decades of deflation. Today’s graphic shows a snapshot of five years of Japan’s economy through four key economic indicators.
Last week, Yoshihiko Noda became the longest serving Japanese prime minister since Junichiro Koizumi stepped down in 2006 after five years in office. Since it seems as though a loss is looming, a comeback from behind would be nothing short of a political miracle. But since the vote is unlikely to produce a clear winner, a solid election result could keep Noda’s party in play if some sort of coalition is formed. Today’s graphic looks at key economic indicators during the tenures of Japanese prime ministers since 2000.
Former Federal Reserve chief economist David Stockton warns the U.S. economy would see unemployment spike to 9% if lawmakers fail to reach agreement and the fiscal cliff takes effect in January 2013, with Bush-era tax cuts expiring and automatic cuts in federal spending taking effect.
Greece’s parliament overcame divisions today to defeat an early challenge to an austerity package needed to secure vital international aid, but it still faced internal dissent and angry protests ahead of a final vote. Today’s graphic breaks down the austerity plan.
Angela Merkel braved Tuesday’s protests in Greece to reaffirm her commitment to keeping the debt riddle country in Europe’s single currency. Today’s graphic compares the economies of Greece and Germany using charts of 8 key economic indicators.
Youth unemployment has hit hardest in the south of Europe, but the north is not immune. Significantly, substantial numbers of young people are not in employment, education or training (known as NEET). Today’s graphic breaks down the unemployment & NEET rate for each European country.