Unemployment predictions for Greece (28%) and Spain (27%)

A study of the Ernst & Young financial auditors company predicts a new record low for unemployment in the eurozone, with the number of unemployed surpassing the 20 million mark in the second half of 2013, from 18.7 million in October, protothema reported.

Ernst & Young bases its assessment mainly to the decrease of competitiveness. According to the study, the overall economic performance of the eurozone countries will decline by 0.2% accompanying the decline of 0.4% recorded in 2012. As the authors of the study write, «the following year too will be very difficult for the eurozone.»

Grim predictions for Greece and Spain

They believe that the situation in Greece and Spain will be particularly difficult. Regarding the first, they predict a further reduction of GDP up to 4.3%, with growth returning in 2015. The already very high unemployment rate in Greece is expected to make a new upward leap, reaching 28% in 2013.

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via Ernst & Young: Grim unemployment predictions for Greece (28%) and Spain (27%).