The News From Spain

can drive you insane...via BBC:

Spain's jobless level hits record 4.75 millionContinue reading the main story

The number of Spanish jobseekers rose for the eighth month in a row in March to hit a record 4.75 million.The Labour Ministry said the number of people filing for unemployment benefits rose by 38,769 with the services sector seeing the most jobs lost.

The jobless rate in Spain stood at 23.6% in February, according to EU figures released on Monday.
Meanwhile, Spain has said its public debt will leap more than 10 percentage points this year to 79.8% of GDP.

Of course, if you are Eurocrat or a finance ministry official, you will think that austerity isn't failing, it just hasn't been tried long and hard enough.

Youth unemployment

Many of our graduates are actively hunting for work now. Some already found good jobs, others are interns at interesting places (congrats to Paulina Tourn, who is currently with the WTO). Now, Edoardo Campanella (ITFD 08-09) has written an article highlighting the problem of youth unemployment in Europe. It's for project syndicate, which feeds content to over 140 newspapers worldwide. Luckily, Edoardo isn't talking from personal experience. He is currently an economic advisor to the Italian Senate, and was formerly an economist at the World Trade Organization.