Some Gloom from Around the World

Germany has announced a predicted 6% contraction for 2009.  Unemployment is over 8%.

Japan has announced a predicted 3.3% contraction for April 2009 to April 2010.

The UK is sticking to its 3.5% contraction call for 2009.  Unemployment is currently 6.7%

The US just came out with dismal numbers (-6.1% for the first quarter) and the projected contraction for 2009 is officially still 1.2%.  Unemployment is 8.5%.

Ireland has projected a 8.3% contraction and unemployment is now over 11%.

Sweden is projecting a 4.5% contraction for 2009 and unemployment currently is over 8%.

China where good data is is hard to come by is looking at projected growth of 5-7%.  But to put that into perspective it translates into a roughly estimated 40-50 million unemployed workers!

Canada has projected a 3% contraction for 2009 and currently has unemployment rate of 8%.

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