The U.S. got some good news from this morning from the BLS, who told us that American business added 200k nonfarm payrolls and the unemployment rate fell to 8.5%.
Sure, 8.5% is still high. But it’s nowhere near the 22.9% rate in Spain. This is according to Eurostat based on data through November 2011. Across the euroarea, the unemployment rate was at 10.3% in November.
Here’s a country by country breakdown of Europe’s unemployment rates. At the left, that’s Austria with a 4% unemployment rate.