More like "Because the euro's high." On a related note, a German ministry reported today that young, highly educated Germans are heading overseas (the US mainly) at an "alarming" rate, leaving the workforce made up of "farmers and truck drivers from the east". The dutch reported a net emigration, for the first time in decades. No doubt to spend all their high-value euro's in the depressed third world.

That can't be, the WSJ said overall employment rose. I read it this morning.

Sandy - A higher unemployment rate with a higher absolute amount of employment is possible. In fact, it has happened a couple of times here i nthe US in the last year. I'm an economist and this is one of the main points we land on like a bag of hammers in MAcro classes so students don't get confused. The key is more people entering the labor force. For example, if 10 million college students graduate (thus entering the work force) and only 2 million get jobs, both absolute employment and the unemployment rate could rise.