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Eurozone: Unemployment Rate Hits New High

Posted by feww on December 2, 2012


[December 2, 2012] Mass die-offs resulting from human impact and the planetary response to the anthropogenic assault could occur by early 2016.

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Global Disasters/ Significant Events

Jobless rate in the euro area rose to a new high of 11.7% in October

European Central Bank has warned the single currency zone would not emerge from its crisis until the second half of 2013 [wishful thinking?]

Unemployment rate in recessionary euro area climbed to 11.7% in October up from 10.4% last year.

[Eurozone, officially the euro area, is an economic and monetary union of 17 European Union (EU) member states using euro (€) as common currency.]

  • October 2012 rise was the 14th consecutive monthly record since September 2011 when unemployment reached 10.3 percent.
  • An additional 173,000 were out of work across the euro area, bringing the total to 18.7 million.
  • Some 25.92 million people across the 27-state European Union single market were out of work in October, Eurostat said.
  • The youth unemployment rate climbed to 23.9% in the euro area and to 23.4% in the EU single market compared with 21.2 % and 21.9 percent a year ago, leaving about one in four young Europeans out of work in October.
  • Spain’s jobless rate rose to 26.2% from 25.8% the previous month (55.9 percent of under 25s were out of work), and Italy’s climbed to 11.1% from 10.8%.
  • Greece’s unemployment rate jumped to 25.4% from 18.4% a year ago (at least 57 percent of under 25s were out of work), and Portugal’s 16.3% from 13.7%.
  • France’s jobless rate was 10.7% and Ireland’s 14.7% in October.

Global Disasters: Links, Forecasts and Background


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