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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.

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

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

Transcript

STEVE INSKEEP, HOST:

Every day more than a quarter billion dollars worth of goods passing over a single U.S. border crossing - the Ambassador Bridge - which stretches across the Detroit River, from Detroit to Canada. U.S. and Canadian officials say traffic jams on that bridge are hampering the flow of international commerce and they say a second major crossing from Ontario to Detroit is needed. The question, now, is who would control that bridge. We have a report from Quinn Klinefelter of WDET.

(SOUNDBITE OF HORN HONKING)

Saudi Arabia is considering Egypt's request to restore diplomatic ties after the kingdom recalled its ambassador over the weekend. Relations between the two Arab countries are at their lowest point in three decades.

Michael Jordan, one of the greatest players in basketball history, has one more record. It's not likely a record he wanted. He's the owner of the NBA's worst team ever. The Charlotte Bobcats have seven wins and 59 losses.

William Lawlis Pace died in California this week. He holds the record for the person alive the longest with a bullet in his head. Back in 1917, his brother accidentally shot him with a rifle. Doctors left the bullet in place, feeling it would do more damage to remove it.

Lawmakers in the House plan to vote Friday on a measure that would prevent a doubling of the student loan interest rate on July 1. The House would pay for the decreased revenue by raiding the new health care law's fund for preventive care.