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Why Americans should worry about Europe's economic troubles

Spain economy
People walk outside a government employment office in the center of Madrid on November 5, 2013.
GERARD JULIEN/AFP/Getty Images

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On Friday, the U.S. jobs report showed a dip in job growth after months of improvement. Unemployment and job growth, or lack thereof, is worse in Europe, especially for young people:

About 5.6 million jobs have been lost across the 28 countries that belong to the European Union (EU) since the global financial crisis of 2008, Ambrosetti's economists say.

"The economic crisis produced growing unemployment levels in the EU, which now requires bold action from policymakers to boost labor demand as well as to implement labor market structural reforms," the economists wrote in their "Labor market scenario in Europe" report...

Unemployment averaged 10.3 percent across the EU in July--the same as in June. Nearly one-quarter (24.5 percent) of Spaniards were unemployed during the month, along with 12.6 percent of Italians and 11.5 percent of Irish citizens.

On The Daily Circuit, we discuss why Americans should be concerned about Europe's economy.