Unemployment Rate in Europe Highest in 10 Years

The unemployment rate for the 16 member euro region rose to 9.5% in July according to the EU statistics office. Although this is the highest rate this region has seen since mid 1999- is was actually right in line with economists' predictions. To make matters worse, there is little relief in sight. Unfortunately, most economists expect unemployment to continue to rise in the region until it reaches over 11% in early 2011. What does all this mean for recruiting? In all likelihood we will see a continuation of the trends we’ve seen this year- less hiring, more applications, and more aggressive candidates.