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Eurozone Unemployment Rate hits record 12.2%!

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posted on May, 31 2013 @ 05:48 AM
Well, at least America isn't the only place in the world that has crap for employment numbers. I hate to see others suffering too, but misery does love company.

LONDON (AP) — Unemployment across the 17 EU countries that use the euro hit another record high in April, official figures showed Friday, the latest in a series of ignominious landmarks for the ailing single currency zone.

Eurostat, the EU's statistics office, said Friday that unemployment rose to 12.2 percent in April from the previous record of 12.1 percent the month before. Another 95,000 people joined the ranks of the unemployed, taking the total to 19.38 million. At this pace, unemployment in the eurozone could breach the 20 million mark this year.

That has to be a bit of bitter news to start the day with. Ouch!

The differences are particularly stark when looking at the rates of youth unemployment. While Germany's youth unemployment stands at a relatively benign 7.5 percent, well over half of people aged 16 to 25 in Greece and Spain are jobless. Italy's rate has ticked up to over 40 percent.

40%? Obviously, hard times aren't equally spread and this will be a long, hot summer for everyone. I have a feeling, protest season will be a busy one this year.

edit on 31-5-2013 by Wrabbit2000 because: Fixing Source

posted on May, 31 2013 @ 05:52 AM
reply to post by Wrabbit2000

A global example of how government does NOT create jobs, create innovation.

But government will sure as hell be there when you aren't employed so you can remain dependent on it!

posted on May, 31 2013 @ 08:07 PM
In this article they graphed each of the participating countries.

unemployment by Country graph

Even countries like France that started to recover are still seeing unemployment creeping higher recently?

posted on Jun, 1 2013 @ 07:30 PM
reply to post by Cauliflower

Even countries like France that started to recover are still seeing unemployment creeping higher recently?

France started to recover? really?

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