4 2 mins 9 yrs

Quick update for you on the employment situation in the Eurozone!

“The unemployment rate across the eurozone hit a new all-time high of 11.8% in November, official figures have shown. This is a slight rise on 11.7% for the 17-nation region in October. The rate for the European Union as a whole in November was unchanged at 10.7%. Spain, which is mired in deep recession, again recorded the highest unemployment rate, coming in at 26.6%. More than 26 million people are now unemployed across the EU.”

When we consider YOUNG European people, it gets even worse!

The youth unemployment rate was 24.4% in the eurozone, and 23.7% in the wider European Union. Youth unemployment – among people under 25 – was highest in Greece (57.6%), followed by Spain (56.5%).

Those are staggering stats. In Greece and Spain, most young people do not work! Quite what the future societal implications are I don’t know but I think that Nobel Peace Prize handed over to the EU might need to have a few strings attached.

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4 thoughts on “EU ISN’T WORKING…

  1. Oh dear – and all those jobs that people just won’t do? Cut their benefits and force them to sweep the streets. Better still, end their benefits and make the lazy bastards starve.

    The reality is that there are no real or decent jobs for the majority of young people who are leaving secondary and tertiary education. Note that a decent job is one which provides a living (pays all reasonable living costs plus surplus for savings) wage and with prospects of betterment, a career even! These possibilities disappeared when the manufacturing sector was shrunk and moved overseas.

  2. The youth unemployment rate was 24.4% in the eurozone, and 23.7% in the wider European Union. Youth unemployment – among people under 25 – was highest in Greece (57.6%), followed by Spain (56.5%).

    A stunning triumph of government central planning.

    Meanwhile Switzerland, with few welfare benefits and no minimum wage. has by far the lowest unemployment rates in Europe.

  3. But there is no shortage of wealth:

    http://www.taxjustice.net/cms/upload/pdf/Price_of_Offshore_Revisited_26072012.pdf

    – A significant fraction of global private financial wealth — by our estimates, at least $21 to $32 trillion as of 2010 — has been invested virtually tax-free through the world’s still expanding black hole of more than 80 “offshore” secrecy jurisdictions. We believe this range to be conservative, for reasons discussed below.

    Remember: this is just financial wealth. A big share of the real estate, yachts, racehorses, gold bricks — and many other things that count as non-financial wealth — are also owned via offshore structures where it is impossible to identify the owners. These are outside the scope of this report. –

    And there are people here who wish to ‘claw back’ benefits from the poorest when the wealthiest have bought the politicians who allow this wealth to be stolen.

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