One of the features of depression v recession, is that the length of a depression is difficult to predict. The last one lasted from the 1920s until the end of WW II. The current Greater Depression is likely to destroy the prospects of at least one generation of young people in the US and elsewhere.
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Spain unemployment hits record high of 27.2%:
With more than 6 million people unemployed for the first time, Spain's jobless rate shot up to a record 27.2% in the first quarter, the National Statistics Institute said Thursday, in another grim picture of the recession-wracked country.
French jobless claims hit all-time high in March:
The number of jobless people in France hit an all-time high in March, piling more gloom on cash-strapped households and fresh doubt on the government's pledge to reverse the unemployment trend by year-end.
Crisis for Europe as trust hits record low:
Public confidence in the European Union has fallen to historically low levels in the six biggest EU countries, raising fundamental questions about its democratic legitimacy more than three years into the union's worst ever crisis, new data shows.
UK food bank users triple in a year as economic problems continue:
The largest food bank provider in the UK, warned the dramatic increase in the number of food bank users is to continue in the coming months due to the government's welfare reforms, including the 1 percent benefit cap, the bedroom tax, and the 10 percent cut in council tax support.
Record Number of Households on Food Stamps-- 1 out of Every 5:
The latest available data from the United States Department of Agriculture (USDA) shows that a record number 23 million households in the United States are now on food stamps.
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