News / Europe

Eurozone Jobless Rate Hits New High

German police officers guard the Deutsche Bank building during a demonstration by anti-capitalism Blockupy protesters in front of the European Central Bank in Frankfurt, May 31, 2013.
German police officers guard the Deutsche Bank building during a demonstration by anti-capitalism Blockupy protesters in front of the European Central Bank in Frankfurt, May 31, 2013.
Selah Hennessy
Unemployment in the eurozone has reached a new record high according to figures published Friday. Nearly 20 million people are out of work.

Nicola Massarelli is from Eurostat, the European Commission’s statistics office. He said, “The unemployment rates are the highest in this time series. Unemployment has been going up since the beginning of 2008 constantly until now.”

A time series is a sequence of data that shows how the value of a variable changes over time.

According to the figures published Friday, the eurozone’s overall jobless rate is now at 12.2 percent. In the 12 months up until April, 1.6 million people lost their jobs.

But the numbers show that there is great disparity across the 17-nation bloc.

In Germany, Europe’s largest economy, the unemployment rate is just over five percent. That is in major contrast to some of its eurozone neighbors. Massarelli:

“There are two countries where the unemployment rates are by far higher than in any other countries in the euro area," dsaid Massarelli. "These are Greece, where the rate is 27 percent, and Spain, where it is 26.8 percent.”

Youth have been the hardest hit. Excluding students, 24.4 percent of people under the age of 25 were out of work in April. Again, the numbers vary massively country by country. In Germany, the number is under eight percent. In Greece it’s soaring at more than 60 percent.

The Eurozone has been in recession for 18 months, its longest recession since the single-currency was launched in 1999. And earlier this week the Organization for Economic Co-operation and Development, or OECD, said it expects the eurozone economy to contract by 0.6 percent this year.

On Friday, around 1,000 protesters gathered outside the European Central Bank in Frankfurt demonstrating against what they say is the bank's role in enforcing harsh austerity measures across the eurozone - spending cuts and tax hikes aimed at tackling the eurozone’s ongoing debt crisis.

The European Central Bank, the European Commission and the International Monetary Fund have made austerity a key demand of international bailout packages - and protestors blame these policies for the ongoing recession and rising unemployment.

The anti-capitalist "Blockupy" movement has called for two days of action in protest.

Florian Dallmann, one of the protestors, said they are protesting against the European austerity policy, which is a disaster for the people in the countries affected. He said spending cuts in one European country impact all Europeans.

The ECB said it will remain operational despite the protests.

You May Like

Mood Tense Ahead of Scotland Independence Vote

As race to persuade undecided voters continues, 'No' voters say they believe life in Scotland will slowly improve, 'Yes' vote not worth the risk More

South Africa’s 'Open Mosque' Admits Everyone, Including Critics

Open Mosque founder plans to welcome gay worshipers and allow women to lead prayers More

Ukrainian Activist in Despair About Future of Her Country

IrIna Dovgan, accused of being a spy and tortured by pro-Russian separatists, is appealing to UN Human Rights Council to support her country More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
A Dinosaur Fit for Land and Wateri
X
September 17, 2014 8:44 PM
Residents and tourists in Washington D.C. can now examine a life-size replica of an unusual dinosaur that lived almost a hundred million years ago in northern Africa. Scientists say studying the behemoth named Spinosaurus helps them better understand how some prehistoric animals adapted to life on land and in water. The Spinosaurus replica is on display at the National Geographic museum. VOA’s George Putic has more.
Video

Video A Dinosaur Fit for Land and Water

Residents and tourists in Washington D.C. can now examine a life-size replica of an unusual dinosaur that lived almost a hundred million years ago in northern Africa. Scientists say studying the behemoth named Spinosaurus helps them better understand how some prehistoric animals adapted to life on land and in water. The Spinosaurus replica is on display at the National Geographic museum. VOA’s George Putic has more.
Video

Video Iraqi Kurdistan Church Helps Christian Children Cope find shelter in churches in the Kurdish capital, Irbil

In the past six weeks, tens of thousands of Iraqi Christians have been forced to flee their homes by Islamic State militants and find shelter in churches in the Kurdish capital, Irbil. Despite U.S. airstrikes in the region, the prospect of people returning home is still very low and concerns are starting to grow over the impact this is having on the displaced youth. Sebastian Meyer reports from Irbil on how one church is coping.
Video

Video NASA Picks Boeing, SpaceX to Carry Astronauts Into Space

The U.S. space agency, NASA, has chosen Boeing and SpaceX companies to build the next generation of spacecraft that will carry U.S. astronauts to the International Space Station by the year 2017. The deal with private industry enables NASA to end its dependence on Russia to send space crews into low Earth orbit and back. Zlatica Hoke has more.
Video

Video Future of Ukrainian Former President's Estate Uncertain

More than six months after Ukraine's former President Viktor Yanukovych fled revolution to Russia, authorities have yet to gain control of his palatial estate. Protesters occupy the grounds and opened it to tourists but they are also refusing to turn it over to the state. VOA's Daniel Schearf reports from Mezhigirya, just north of Kyiv.
Video

Video China Muslims Work to Change Perceptions After Knife Attacks

China says its has sentenced three men to death and one woman to life in prison for a deadly knife attack in March that left more than 30 dead and 140 injured. Beijing says Muslim militants from China's restive western region of Xinjiang carried out the attacks. Now, more than six months after the incident, residents in the city are still coping with the aftermath. VOA's Bill Ide has more from Kunming.
Video

Video Enviropreneur Seeks to Save the Environment, Empower the Community

Lorna Rutto, a former banker, is now an ‘enviropreneur’ - turning plastic waste into furniture and fences discusses the challenges she faces in Africa with raw materials and the environment.
Video

Video West Trades Accusations Over Ransoms

As world leaders try to forge a common response to the threat posed by Islamic State militants in Iraq and Syria, there is simmering tension over differing policies on paying ransoms. In the past month, the jihadist group has beheaded two Americans and one Briton. Both countries refuse to pay ransom money. As Henry Ridgwell reports for VOA from London, there is uncertainty in the approach of some other European nations.
Video

Video Scotland Independence Bid Stokes Global Interest

The people of Scotland are preparing to vote on whether to become independent and break away from the rest of Britain, in a referendum being watched carefully in many other countries. Some see it as a risky experiment; while others hope a successful vote for independence might energize their own separatist demands. Foreign immigrants to Scotland have a front row seat for the vote. VOA’s Henry Ridgwell spoke to some of them in Edinburgh.


Carnage and mayhem are part of daily life in northern Nigeria, the result of a terror campaign by the Islamist group Boko Haram. Fears are growing that Nigeria’s government may not know how to counter it, and may be making things worse. More

AppleAndroid