German Joblessness Rises to 12%; French Rate at 10.1%

Bloomberg

March 31 (Bloomberg) — Unemployment in Germany rose to a postwar record of 12 percent and France’s jobless rate held at a five-year high, threatening prospects for economic growth in the dozen nations sharing the euro.

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With oil prices 63 percent higher than a year ago, the European Commission may also lower its 2005 growth forecast on April 4, according to Ian Stewart, Merrill Lynch & Co.’s chief European economist. Merrill expects the commission to cut its prediction for euro region growth to 1.7 percent from 2 percent.
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