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.