UNEMPLOYMENT

Spain, the euro zone's fourth-largest economy, said Monday industrial output decrease by 7.5 percent in March compared to the prior year, following sharp unemployment and shrinking gross domestic product, according to official data.

According to the think-tank, a generally weaker economic outlook for a longer period in the UK, and revised jobless forecasts mean that only the affluent areas of London, the South East and East of England will escape the trend.

Asian stock markets plunged Monday as weaker-than-expected US employment report and election results from Europe weighed on investor sentiment.

Highlighting the economic data this week -- May 7-11 -- are the March trade-balance figures to be released Thursday. Economists expect the U.S. trade deficit to widen after its sharp narrowing in February.

Nicolas Sarkozy delivered a concession speech Sunday night, following his loss to Socialist candidate Francois Hollande in France?s presidential election. I bear the full responsibility for this defeat, Sarkozy said.

Chancellor Angela Merkel's conservatives stood neck-and-neck with the rival Social Democrats (SPD) in an election in the German state of Schleswig-Holstein, projections showed on Sunday, pointing to weeks of tough coalition talks to form a government.

And we're off! Like the starting gunshot during Saturday night's Kentucky derby, the Obama campaign has signaled that the general election has begun.

French voters turned out in force Sunday in the second round of presidential elections that are likely to make Nicolas Sarkozy the 11th European leader to be swept from office by the economic crisis.

Polling began in Greece Sunday in an early general election that could push the debt struck country to further turmoil and uncertainty.

Both the center-right New Democracy and the center-left Pasok parties could be in for beatings on Sunday as Greece conducts its first general parliamentary elections since the country's sovereign-debt crisis mushroomed in late 2009.

In accordance with global May Day celebrations, the Southeast Asian nation of Malaysia has introduced a minimum wage for the first time, following a decade of pressure by labor unions.

In some U.S. presidential election years, one issue dominates, and that's likely to be the case in 2012. The issue: jobs, and so far the Obama administration's policies have not created enough. President Barack Obama needs to find ways to create more jobs, if he hopes to be re-elected.

European stocks plunged Friday on fears a victory by the Socialist candidate in France's presidential election could upend prospects of setting the continent's second-largest economy on a sound footing.

Mitt Romney appeared Friday on Fox to discuss the April jobs report showing 115,000 jobs added, far lower than expected.

Unlike in France, where voters choose between two distinct candidates (conservative Nicolas Sarkozy and Socialist Francois Hollande), the Greek election is more complicated.

The U.S. economy added far fewer jobs than expected in April, while the unemployment rate edged down as more people gave up hope of finding jobs, reinforcing the fear that the job market recovery could be losing steam.

Futures on major U.S. stock indices point to a higher opening ahead of key U.S. monthly nonfarm payrolls and unemployment data from the government.

Employers likely increased hiring in April, although not enough to lower the country's 8.2 percent jobless rate, keeping pressure on President Barack Obama ahead of his November re-election bid.

The European Central Bank made a show of that organization's immense political and economic force Thursday, rattling world markets with news it had not even considered lowering benchmark euro lending rates and, more provocatively, having its top banker lecture European politicians on the eve of what are expected to be decisive election in two European countries.

German car companies won in April as domestic sales rose 2.9 percent, bucking a wider euro zone trend of declining sales, but exports of German-made cars fell substantially last month.

The risk of inflation is keeping the Federal Reserve from doing more to support the U.S. economy, even though the threats to price stability are reasonably contained at present, a Fed official said Thursday.