A Closer Look

European unemployment | Highest in 14 years and Youth Hit Hardest

“European unemployment increased to the highest in more than 14 years in February as companies from Spain to Italy eliminated jobs to weather the region’s crisis” writes Bloomberg.

The euro area (EA17) seasonally-adjusted unemployment rate was 10.8% in February 2012, compared with 10.7% in January. It was 10.0% in February 2011. The EU27 unemployment rate was 10.2% in February 2012, compared with 10.1% in January. It was 9.5% in February 2011 says Eurostat.

 Source: http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/3-02042012-AP/EN/3-02042012-AP-EN.PDF

Eurostat estimates that 24.550 million men and women in the EU27, of whom 17.134 million were in the euro area, were unemployed in February 2012. Compared with January 2012, the number of persons unemployed increased by 167 000 in the EU27 and by 162 000 in the euro area. Compared with February 2011, unemployment rose by 1.874 million in the EU27 and by 1.476 million in the euro area.


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