Thu, 20 September 2018
GoDaddy - World's #1 Domain Registrar
FB Twitter Rss
Advertisement
Wed, 02 May 2012 07:20:31

Unemployment at Record High in Euro Zone

Unemployment in the euro zone rose to a new high in March, according to data released Wednesday which is likely to intensify calls for an easing of the region’s austerity drive.

Unemployment in the 17 countries that belong to the euro zone rose to 10.9 percent in April from 10.8 percent in March, Eurostat, the European Union statistics agency, said Wednesday. In March 2011, the rate was 9.9 percent, a number that illustrates the deterioration of the area’s economy during the last year.

The monthly increase, the 11th in row, translates into more than 17 million jobless people, and is also likely to add to tension ahead of national elections in Greece and France on Sunday.

The votes will be an occasion for citizens to register their discontent at the decline in living standards and public services that has been a consequence of government budget cutting. Leaders could come to power who are unwilling to continue the austerity programs pushed by Northern European countries, especially Germany.

“The grim unemployment figures for March will likely encourage talk about a long-overdue ‘growth pact’ for the euro zone,” Martin van Vliet, an economist at the Dutch bank ING, said in a note to clients.

The figures also illustrated the growing gap between Northern Europe and countries in the south. The jobless rate in Germany was just 5.4 percent as calculated by Eurostat, compared to 24.1 percent in Spain and 21.7 percent in Greece. The Greek figure is based on January data, the most recent available.

However, some economists said there were signs of weakness even in Germany, which has the largest economy in Europe. The Federal Employment Agency, which counts some people as unemployed who are excluded by Eurostat’s methodology, said Wednesday the number of jobless people in Germany fell by 65,000 in April to below 3 million, a rate of 7 percent.

After adjusting for seasonal distortions, though, unemployment in Germany rose slightly.

“Compared with most other European countries, the German labor market is still a bright spot,” Thomas Harjes, an analyst at Barclays Capital, said in a note. But he added, “Today's figures highlight that the weak economy will not leave the labor market unscathed.”

 

Link to Source:
http://www.datsyn.com/article/366/2012/05/02/Unemployment-at-Record-High-in-Euro-Zone

 

LOGIN TO POST ADS

Free Registration
Username / Email
Password
  • Forgot your Password?
  • Create an Account
  • Latest News

    Get Luxury Airport Transfer & Limo ..
    on 19 September 2018 00:02:20
    George's Limousine has announced that it can now offer its affordable, reliable and high end limous
    LCG Annouces New Licensing Campaign..
    on 18 September 2018 17:42:41
    [Newport Beach, CA], – The new patented technology is used for closing a craniotomy and a tech
    Living In The Illawarra? Local Expe..
    on 18 September 2018 00:51:07
    Looking Younger Without Surgery: How Ultrasound Treatments Roll Back the Years Although most people
    St. Pete/Clearwater Florida names R..
    on 17 September 2018 00:02:37
    St. Pete/Clearwater - With an eye on the well-being of both visitors and sea life, Visit St. Pete/Cl
    KnightsbridgeFX.com ranks on Growth..
    on 16 September 2018 01:11:48
    Knightsbridge Foreign Exchange has been ranked 107 by the Canada's Fastest Growing Companies progra

    Latest Classified Ads

    Suport and Contribute for The \"B..
    on 07 November 2017 17:35:36
    We are seeking funding to make a movie dramatizing what would happen if elections were hacked.&nbs..
    Solar Battery charger..
    on 12 January 2017 18:55:06
    Solar battery charger –  10000mAh Solar battery Power Bank charger With Fold-able 4 Solar..
    Power Bank 20000mAh Slim aluminum a..
    on 12 January 2017 18:51:53
    Power bank 20000mAh Slim Aluminum Alloy mobile battery charger with electronic digital display ..
    Portable Car battery jump starter..
    on 12 January 2017 18:49:04
    Portable car battery jump starter  power bank 12000mah, emergency Multi purpose battery charger..
    10000mAh lithium polymer slim power..
    on 01 January 2017 17:11:35
    10000mAh power bank lithium polymer battery for smartphones and tablet,20000mah OEM and ODM are all ..