Eurozone unemployment hits record high and reveals two-speed Europe

It looks like the Eurozone has big problems.

Unemployment is high. As high as 25% in some countries like Greece and Spain.

A survey has found that 26% of British workers are diagnosed with depression and it seems workers there take an average of 41 days a year off work because of it !!

Lots of problems in Europe.

The eurozone unemployment rate was 11.4pc in August, up from 10.2pc last year. Data from the EU statistics agency Eurostat estimated that 25.5m men and women were out of work over the period, 18.2m of whom were in the eurozone.

Compared with the previous month the number of unemployed people in the EU rose by 49,000 and in the eurozone by 34,000.

The overall unemployment rate in Spain has reached 25.1pc, while the latest data from Greece for June shows a figure of 24.4pc. The outlook is far more optimistic in Germany, however, where just 5.5pc of people are out of work. ...

Eurozone unemployment hits record high and reveals two-speed Europe

European survey found 26% of British workers diagnosed with depression

Britons and Germans took the most time off as a result - 41 days on average

British workers are the most likely to be diagnosed with depression in Europe, a survey has found.

The worrying extent of the illness in the UK was laid bare by the poll that revealed 26 per cent of Britons had received the diagnosis from their GP, compared with 12 per cent of Italians.

Those in the UK also took the most time off as a result of the illness, recording 41 days on average compared with the European mean of 36......

British workers 'are the most depressed in Europe' as one in four is diagnosed with the illness

One in 10 workers has taken time off because of depression, a poll of 7,000 people in seven European countries has found.

The Mori survey was carried out for the European Depression Association (EDA) in Britain, Germany, Italy, Denmark, Turkey, Spain and France.

Those in Britain, Denmark and Germany were most likely to be off work because of depression.....

One in 10 workers has taken time off for depression

Euro zone manufacturing put in its worst performance in the three months to September since the depths of the Great Recession, with factories hit by falling demand despite cutting prices, a business survey showed on Monday — pointing to a new recession.

Factories helped lift the 17-nation bloc out of its last recession, but the survey suggests a downturn that began in smaller periphery countries has taken root in core members Germany and France....

Euro Zone Factory Data Flag ‘New Recession’

The trouble is with UK doctors is that they diagnose depression far too easily. I think that many that have been diagnosed are not actually depressed in any long term form.

Originally posted by michael1983l
The trouble is with UK doctors is that they diagnose depression far too easily. I think that many that have been diagnosed are not actually depressed in any long term form.

Excellent point.

They are doing the same thing in the U.S.

yeah in Spain, for people 18 to 30..unemployment is well over 50%...

so no point in going to university...you end up working as a waiter....

No point in working as a waiter.....since an immigrant will do your job and not try to sue the company blind for working a few hours extra a week...

The cafe down the street to me had to close because the lady was a moron and only hired white Spaniards....they complained all day and left her and her broken leg working her cafe alone because they were done for the day.....so this one day there was a late soccer game which would pack the place...and they picked up and left their older boss alone to fend for herself.....she took her keys locked up and sold the place....they now employ south Americans and those Spaniards are out of work. They had the best pay, hours, and time off for more than 10 square city blocks.

That is also indicative of the problem. The people here had excessive workers rights and excessive consideration to them. Now they have the other extreme and they are all going bat isht....I can't blame them.

I would love to have a year off paid vacation for depression, or 1 month off with pay for a cold.....

I am not saying they didn't get screwed with austerity and on a whole the job hunt is pretty dismal with cheap labor everywhere....but they are also bad workers and very self centered. They in part have created this problem.

They all took their 2 YEARS for the most part with almost full pay of unemployment to the very last day before going to find work.

I knew a guy that would lounge around all day and BS with me in the bar I worked at instead of looking for a job. The mentality that "oh screw the government let them pay for me" is rampant here. This guy had a kid and a house he was working on...he never looked until he had 2 weeks left of unemployment.....while the country was in full blown crisis.

There are so many examples I could fill this thread, so just know that they really have done this to themselves to a degree.....that and they vote for the dumbest reasons. Sometimes it is a spite vote.....the socialist were crucified for having "caused" the crisis.....yet the current popular party has done nothing different...they just asked Germany for money and committed to pay it....that and sold the country to them...all fiscal power for Spain now resides in Germany...they own us.

But....many saw this coming. The entitlement mentality loved the gravy train of free money...and they were lulled into a false sense of security.....now they are all crazy, and to a far degree with every right to be, but they should not be surprised....you can't all be in the bar.....I know because I serve you.....you were all here watching soccer and drinking up.....now, the hangover is a bitch, I know.....

Well let's look back...
After the 2008 financial crisis that took over both American markets and European markets the two continents took very different paths. The Europeans, seeing that a vast majority of their cash was going towards social programs decided to take the austerity route and cut many social programs and cut them deep. America, under a new president, decided to push money into the market directly.

According to the BBC European debt rose in every country. The unemployment rate went up dramatically in some countries and down slightly in others. GDP in every country plummeted during the financial crisis but came back slightly in 2010 while falling again the past two years.

America on the other hand, saw debt increase just as fast as Europe. Our unemployment rate went down, continuously, from a high of 10% in late 2009 to its current 8%. GDP has gone up and has continued to go up since it fell slightly in 2009.

All in all, we've done far better than Europe at managing our economy through the stimulus and the bailout of the auto industry. We haven't dramatically cut our social programs as they've done in Europe.

So when I see what's happening in Europe I'm not surprised in the least. To take a conservative look at your economy and stop spending when you really need to spend more you see the two different worlds, spending vs cutting.