A Closer Look

More Than Half Youth are unemploymed in Spain and Greece

Unemployment

Unemployment (Photo credit: born1945)

The unemployment rate among Spain’s under-25s rose to 50.5pc in January, and to 50.4pc in Greece in December, according to the latest available data from Eurostat, the European Union’s statistics office. It compared with an average eurozone youth unemployment rate of 21.6pc. One of the lowest rates of youth unemployment is in Germany, where it remained at 8.2pc in February.

The rise in Spain and Greece reflects the deep financial woes of both countries, which are in the midst of far-reaching and highly unpopular austerity programmes, considered necessary by the broader EU to reduce huge deficits.

Spain’s unemployment rate now stands at 23.6pc, compared with a eurozone average of 10.8pc. The extent of Spain’s problems are further underlined by a housing market in crisis, with prices expected to fall the most on record this year. One-in-four homeowners in the country owes more than their property is worth.

Andrea Broughton, Principal Research Fellow at the Institute for Employment Studies, said EU policymakers were facing an “uphill struggle” to reverse rising unemployment.

“Present concerns over the euro, the debt problems of some member states, public spending cuts and austerity measures across many EU member states mean that the unemployment rate is unlikely to fall significantly in the EU in the near future,” she said…

Source:

Read More @ Youth unemployment passes 50pc in Spain and Greece – Telegraph.

Discussion

Trackbacks/Pingbacks

  1. Pingback: Austerity vs solidarity: Democratic legitimacy and Europe’s future Across the EU, there is an outcry – including from economists – about the potential damaging effects of austerity plans. | ikners.com - April 3, 2012

  2. Pingback: Greeks | Unemployment | The greatest fear « Global Job Gap, Local Skills Gap - April 9, 2012

  3. Pingback: Teen Jobs Offer More Than Spare Cash, Expert Says : NPR « Global Job Gap, Local Skills Gap - April 11, 2012

  4. Pingback: Soros | Euro crisis could destroy the EU « Global Job Gap, Local Skills Gap - April 17, 2012

  5. Pingback: Europe | Promoting of job creation and labour demand – We hope so! « Global Job Gap, Local Skills Gap - April 20, 2012

  6. Pingback: Europe suffocates in unemployment – The Pravda « Global Job Gap, Local Skills Gap - April 20, 2012

  7. Pingback: Job Gap | Europe’s army of ‘underemployed’ nearly 25 million plus 9 million underemployed « Global Job Gap, Local Skills Gap - April 23, 2012

  8. Pingback: Spain enters in recession helped by austerity « Global Job Gap, Local Skills Gap - April 30, 2012

  9. Pingback: Euro area unemployment hits record high « Global Job Gap, Local Skills Gap - May 2, 2012

  10. Pingback: United States has its own money, the dollar, while Spain operates on foreign money, the euro, why ? « Global Job Gap, Local Skills Gap - June 27, 2012

  11. Pingback: Youth Unemployment – Young Invincibles Calls for Action « Job Market Monitor - July 12, 2012

  12. Pingback: Greece / Youth unemployment at 56.6 percent « Job Market Monitor - January 11, 2013

  13. Pingback: Spain / Only 22% of 16-24 year olds are unemployed writes Carmen González Enríquez, not 55% | Job Market Monitor - May 24, 2013

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Jobs – Offres d’emploi – US & Canada (Eng. & Fr.)

The Most Popular Job Search Tools

Even More Objectives Statements to customize

Cover Letters – Tools, Tips and Free Cover Letter Templates for Microsoft Office

Follow Job Market Monitor on WordPress.com

Enter your email address to follow this blog and receive notifications of new posts by email.

Follow Job Market Monitor via Twitter

Categories

Archives

%d bloggers like this: