Unemployment rate in Italy 'reaches 36-year-high'

Italy's unemployment rate reached a 36-year-high in April of 12%, according to Bloomberg. The economy will contract 1.8% in 2013, as weak demand prolongs the longest recession in over two decades, the Organisation for Economic Cooperation and Development (OECD) said.

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Europe unemployment rises

Youth unemployment has risen to 23.5% in the European Union, according to official figures released today.