Chart: Italy's Unemployment Rate Hit a New Record High in September (Reported on 10/31)

Italy's unemployment rate hit a record high of 12.5% in September from 12.4% in August. And its youth unemployment rate rose to 40.4% in September from 40.2% in August (source: Trading Economics).


Spain's unemployment rate has been falling this year quarter-over-quarter, but its youth unemployment rate is still stuck at 56.5% (related post on 10/24: 'Spanish Jobless Rate Dips to 25.98% as Recession Ends - AFP; Temporary Hiring Increases - EL PAÍS').

With structural high unemployment and deflationary forces plaguing the eurozone, the ECB might decide to lower rates on Thursday. But I'm reading today that the euro is rising on speculation that the ECB won't cut rates. Either way, watch the euro because if it gets volatile on the upside it could affect Eurozone exports.

Here are related recent posts (11/2-11/3/2013):

1. ECB Under Growing Pressure to Cut Rates - AFP (11/3)
2. ECB Rate Cut and New LTRO Coming? (Reuters Video)
3. Spectre of Destructive Deflation Looms Over Eurozone: Analysts - AFP
4. Eurozone Inflation Falls to Four-Year Low of 0.7% - AFP/Chart
5. Eurozone Unemployment Hits New High in September (19.447 Million), Renewing Growth Doubts - AFP/Chart
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