In the 16 countries that use the euro as their currency, the jobless rate has hit 10 percent for the first time since the single currency was introduced 10 years ago. Analysts say it could approach 11 percent by the end of the year.
The highest unemployment rate is in Latvia — 22.3 percent — followed by Spain at 19.4 percent.
Germany, France, the United Kingdom, Italy and Spain are among the world’s top 10 economies.
Roben Farzad, a senior writer for Bloomberg’s BusinessWeek, joins Daljit Dhaliwal to discuss the implications of the gloomy economic news.