- Brussels fears ‘poverty trap’ for half of Europe as North-South gap widens, By Ambrose Evans-Pritchard, January 8, 2013, The Telegraph: “The jobless rate has reached an all-time high of 26.6pc in Spain, rising to 56.5pc for youth. It is much the same picture in Greece, where unemployment has spiked from 19pc to 26pc over the past year as austerity bites in earnest, with Portugal not far behind as it follows suit with draconian cuts. There are now 18.8m people looking for work across the eurozone…”
- Poverty gap widens between member states, By Nikolaj Nielsen, January 8, 2013, EUobserver: “The economic crisis, which has stripped the social welfare rights of millions, is contributing to a widening poverty gap between member states, the European Commission has said. The worst affected are young people, unemployed women and single mothers in member states predominately located in the east and south of the Union…”
Tag: Job losses
Euro Zone Unemployment
Unemployment in euro zone rises to a new high, By David Jolly and Jack Ewing, November 30, 2012, New York Times: “Unemployment in the euro zone rose to a new high in October, according to official data released Friday. But the head of the European Central Bank tempered the bad news by predicting that the region’s economy would begin to recover next year. Mario Draghi, the E.C.B. president, cautioned that, ‘We haven’t gotten out of the crisis yet.’ But he told Europe 1 radio in Paris, ‘The recovery for the entire euro zone will no doubt begin in the second half of 2013.’ That was a firmer forecast than Mr. Draghi gave earlier last month, when he said only that growth next year would be weak. And it came as separate data indicated that inflation continued to fall, giving the E.C.B. more leeway to pump cash into the economy if needed…”
Euro Zone Unemployment
- Unemployment in euro zone at record high, By David Jolly and Raphael Minder, October 1, 2012, New York Times: “New data Monday showing record jobless rates in the euro zone underscored the pain inflicted by the slowing world economy and the financial problems plaguing many of the countries that share the euro currency. Unemployment in the 17-member euro area rose to 11.4 percent in August, Eurostat, the statistical agency of the European Union, reported from Luxembourg. The agency also revised the figure for June and July to 11.4 percent, up from the previously reported 11.3 percent, which was already a record level for the region since the introduction of the euro in 1999…”
- Unemployment in 17-country eurozone holds steady at record 11.4 percent in August, Associated Press, October 1, 2012, Washington Post: “Unemployment across the 17 countries that use the euro remained at its record high rate of 11.4 percent in August renewing concerns that efforts to slash debts have sacrificed jobs. While European leaders have calmed financial markets in recent months with promises to cut spending and build a tighter union, they haven’t solved the eurozone’s deep-rooted economic problems and the rising tide of joblessness…”