Europe’s New Dismal Jobless Numbers
The euro zone has registered yet another record high unemployment rate of 12.2%, European statistics agency Eurostat reports on Friday.
Earlier in the day, Italy, the third-largest economy in the currency bloc, reported a first quarter jobless rate of 12.8%, the highest in the 36 years this data has been collected, Meanwhile youth unemployment rose to a staggering 40.5%, also an all-time record high, reports Il Sole 24 Ore.
Here is a breakdown of the alarming numbers:
-More than 26 million people unemployed in the 27-member European Union.
-More than 19 million unemployed in the 17-country euro zone.
-Euro zone average: 12.2%
-European Union average: 11%
Greece: 27% in February 2013
In comparison, the United States was 7.5% down from 7.6% in the previous month and 8.1% in April 2012.
-Euro zone youth unemployment: 24.4% up from 24.2% in January 2013.
-European Union under-25 unemployment: 23.5% down from 23.6% in January 2013.
Euro area inflation expected to be on the rise:
Posted on June 2, 2013, in buisiness, EU, Government, International affairs, politics and tagged Austerity, Austria, European austerity, European Union, Eurostat, Germany, Italy, Spain, Unemployment, United States. Bookmark the permalink. Leave a comment.