Unemployment in the Euromarket Goes Up Again

The unemployment in the euro area continues to grow and in April reached a record high of 12.2% (19 million people), one of the most dramatic faces of the European crisis, said the office of European Statistics.

In one year, 1,644 million people lost their jobs in the eurozone and 1,673 million in the European Union, Eurostat said. 23.5% of young people under 25 were out of work in April, he added. Especially in Spain (56.4%), Portugal (42.5%) and Italy (40.5%).

Among the Member States, the highest rates of unemployment were registered in Greece ( 27.0% in February 2013), Spain (26.8%) and Portugal (17.8%). On the other hand, Austria (4, 9%), Germany (5.4%) and Luxembourg (5.6%) registered the lowest. The prolonged recession suffered by the countries of southern Europe caused havoc in their labor markets.

Now France, the second economy of the monetary union, joined the countries of the bloc of 17 countries with unemployment in record numbers. The number of people registered in the unemployment lists in France registered a new record in April, totaling 3.26 million, the Ministry of Labor reported Thursday. It is the 24th consecutive month of increase in unemployment, which grew by 12.5% in the last year.

In April there were 39,800 unemployed more than in March, that is an average of 1,326 new registered per day. German Chancellor Angela Merkel and French President François Hollande said in Paris on Thursday their common will to take measures to generate employment, with a view to next European Council.

The European summit of June 27 and 28 will address the economic issues of growth, competitiveness, employment, particularly the employment of young people. In this perspective, the contribution of France and Germany will be published and submitted to the other 25 countries of the EU.

Supriya Bhor

Having Knack for precision, I take a meticulous approach to find informative pieces of news across industries such as technology, ICT, healthcare and F&B to name a few. Follow me to catch the latest trend.

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Supriya Bhor

About the Author: Supriya Bhor

Having Knack for precision, I take a meticulous approach to find informative pieces of news across industries such as technology, ICT, healthcare and F&B to name a few. Follow me to catch the latest trend.

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