Unemployment in eurozone is the highest since the euro was born. It is another sign of the tragic economic situation in Europe. The highest rate of unemployment in 17 countries of eurozone added some pressure on European Central Bank to take an action. But even Draghi’s promises cannot have an immediate result on economic situation of eurozone members.
The manufacturing sector of Eurozone showed a sharp shrink in almost three years in April, while the data from Asia seems to be very impressive for the quarter. The numbers from the US manufacturing sector also showed a surprising rise in factory growth which left Eurozone as the weakest link in the economic chain with the austerity programs and fiscal crisis taking a toll.