by Calculated Risk on 4/02/2012 08:48:00 AM

From Reuters: Unemployment in Euro Zone Hit New High in February

Unemployment in the euro zone reached its highest level in almost 15 years in February, with more than 17 million people out of work, according to figures released Monday.

Joblessness in the 17-nation currency zone rose to 10.8 percent, up by 0.1 point from January, Eurostat said Monday.
...
Separate data released Monday showed manufacturing activity in the euro zone shrank for an eighth successive month in March, providing further support for Brussels’s forecast that euro zone output will shrink 0.3 percent this year.

Here is the Eurostat data by country.

Rising unemployment, falling manufacturing, declining output ... no surprise.