Is the jobs recovery around the corner?
A few week ago, the European Commission published its latest economic forecast. Unemployment in the Euro area is projected to drop from 12.2% in 2014 to 11.8% in 2015. This is seemingly good news.
The bad news is that the Commission also predicted that unemployment would begin to drop in two years time in 2012 and 2011. In 2010 they predicted a slight drop for 2011 and then a more serious drop two years later.
The last time the European Commission projected that unemployment would be getting worse, not better, in two years time was in its Spring 2010 forecast, announced right after the Greek bailout on May 5th. Since then, the jobs recovery has always been two years away.
Chosen excerpts by Job Market Monitor. Read the whole story at
via The Jobs Recovery Is Always Two Years Away – Social Europe Journal.
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