Friday, August 31, 2012

The American left wants us to be just like them

Unemployment across the 17-nation eurozone hit a record 18 million in July, the EU statistics agency says.

Eurozone unemployment at new high

Some 88,000 more people were added to the jobless total, but upwardly-revised data for June meant the unemployment rate remained at 11.3%.

Eurostat said the 18,002,000 jobless total was the highest since records began in 1995.

The highest unemployment rate in the eurozone was in Spain, at 25.1%. The lowest was in Austria, at 4.5%.

Compared with a year ago, the unemployment rate fell in 10 eurozone countries, increased in 16 and remained stable in Slovenia.

The largest falls were observed in Estonia (13.2% to 10.1%), Lithuania (15.2% to 13.0%) and Latvia (17.0% to 15.9%)

Meanwhile, the highest increases were registered in Greece (16.8% to 23.1%), Spain (21.7% to 25.1%) and Cyprus (7.7% to 10.9%).

Spain and Greece, which are struggling to tackle sovereign debt and banking crises, recorded jobless rates of more than 50% in the under-25s age-group.

1 comment:

John said...

And, as in the US, that number is severely understated as it doesn't include the large numbers of potential workers who are not looking for work and therefore not counted among the unemployed.