Logo Background RSS

Advertisement

Financial Crisis, Austerity and the European Jobless Rate

  • Written by Syndicated Publisher 3 Comments3 Comments Comments
    May 10, 2012
    So, the big news out of Europe today (and the reason why the U.S. dollar and U.S. Treasuries are rising while everything else falls) is that the jobless rate across the pond has reached a record high at 10.9 percent as protests against austerity measures ratchet up in advance of elections this weekend in France and Greece.

    This Daily Chart from The Economist provides some clarifying details about the jobs situation:

    Jobless Rates in Europe

    Of the 17.4 million Europeans who are now without a job and still looking for one (i.e., as in the U.S., there are millions more who have quit their job search and are no longer “counted” as unemployed), a whopping 3 million of those are under 25 years old, a likely indication that protests against austerity measures that are now seen as the cause, not the cure, will ratchet up along with the temperature this spring and summer.

    Images: Flickr Licence Attribution

    Share on FacebookTweet about this on TwitterShare on Google+Share on LinkedInPin on PinterestShare on StumbleUponShare on RedditShare on TumblrDigg thisBuffer this pageFlattr the authorEmail this to someonePrint this page

Advertisement

Closed Comments are currently closed.