Business

The International Labor Organization issued a report Monday warning that austerity measures imposed in many countries are hurting the job market, as well as failing to effectively reduce deficits. The major European economies received the brunt of the report's criticism. The report predicts a 3 percent rise in the global unemployment rate for 2012.

The structure will open in Tokyo next month. The building is nothing but a tower of steel and concrete — no offices, no apartments.

Steve Inskeep talks to John Peet, Europe Editor of The Economist about eurozone economies, and the backlash against austerity measures.

Transcript

DAVID GREENE, HOST:

Let's stay in China now. With its growing population and economic rise, that country has become the world's largest car market. It's a distinction China has held for several years now. And it's an auto market that's becoming increasingly important to American companies. All that is on display at the Beijing Auto Show, which opened this past week. The big emphasis at the show this year is luxury cars with big chrome grilles and also very big price tags.