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

Egypt's Suez Canal Dreams Tempered by Continued Unrest

Seen as a potential driver of recovery, Cairo’s plan to expand waterway had been raising hopes to give country much needed economic boost More

Ebola Maternity Ward in Sierra Leone First of its Kind

Country already had one of world's highest maternal mortality rates before Ebola arrived, virus has added even more complications to health care More

Malaysia Flight 370 Disappearance Ruled Accident

Aircraft disappeared on March 8, 2014; with ruling, families of 239 passengers and crew can now seek compensation from airline 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.
Groundbreaking Hand-Painted Documentary About Van Gogh in Productioni
X
George Putic
January 29, 2015 9:43 PM
The troubled life of the famous 19th century Dutch painter Vincent van Gogh has been told through many books and films, but never in the way a group of filmmakers now intends to do. "Loving Vincent " will be the first ever feature-length film made of animated hand-painted images, done in the style of the late artist. VOA’s George Putic reports.
Video

Video Groundbreaking Hand-Painted Documentary About Van Gogh in Production

The troubled life of the famous 19th century Dutch painter Vincent van Gogh has been told through many books and films, but never in the way a group of filmmakers now intends to do. "Loving Vincent " will be the first ever feature-length film made of animated hand-painted images, done in the style of the late artist. VOA’s George Putic reports.
Video

Video Rock-Consuming Organisms Alter Views of Life Processes

Scientists thought they knew much about how life works, until a discovery more than two decades ago challenged conventional beliefs. Scientists found that there are organisms that breathe rocks. And it is only recently that the scientific community is accepting that there are organisms that could get energy out of rocks. Correspondent Elizabeth Lee reports.
Video

Video Paris Attacks Highlight Global Weapons Black Market

As law enforcement officials piece together how the Paris and Belgian terror cells carried out their recent attacks, questions are being asked about how they obtained military grade assault weapons - which are illegal in the European Union. As VOA's Jeff Swicord reports, experts say there is a very active worldwide black market for these weapons, and criminals and terrorists are buying.
Video

Video Activists Accuse China of Targeting Religious Freedom

The U.S.-based Chinese religious rights group ChinaAid says 2014 was the worst year for religious freedom in China since the end of the Cultural Revolution. As Ye Fan reports, activists say Beijing has been tightening religious controls ever since Chinese leader Xi Jinping came to office. Hu Wei narrates.
Video

Video Super Bowl Ads Compete for Eyes on TV, Web

Super Bowl Sunday (Feb. 1) is about more than just the NFL's American football championship and big parties to watch the game. Viewers also tune in for the world famous commercials that send Facebook and Twitter abuzz. Daniela Schrier reports on the social media rewards for America’s priciest advertising.
Video

Video Theologians Cast Doubt on Morality of Drone Strikes

In 2006, stirred by photos of U.S. soldiers mistreating Iraqi prisoners, a group of American faith leaders and academics launched the National Religious Campaign Against Torture. It played an important role in getting Congress to investigate, and the president to ban, torture. VOA's Jerome Socolovsky reports.
Video

Video Freedom on Decline Worldwide, Report Says

The state of global freedom declined for the ninth consecutive year in 2014, according to global watchdog Freedom House's annual report released Wednesday. VOA's William Gallo has more.
Video

Video MRI Seems to Help Diagnose Prostate Cancer, Preliminary Study Shows

Just as with mammography used to detect breast cancer, there's a lot of controversy about tests used to diagnose prostate cancer. Fortunately, a new study shows doctors may now have a more reliable way to diagnose prostate cancer for high risk patients. More from VOA's Carol Pearson.
Video

Video Smartphones About to Make Leap, Carry Basic Senses

Long-distance communication contains mostly sounds and pictures - for now. But scientists in Britain say they are close to creating additions for our smartphones that will make it possible to send taste, smell and even a basic touch. VOA’s George Putic reports.
Video

Video Former Sudan 'Lost Boy' Becomes Chess Master in NYC

In the mid-1980’s, thousands of Sudanese boys escaped the country's civil war by walking for weeks, then months and finally for more than a year, up to 1,500 kilometers across three countries. The so-called Lost Boys of the Sudan had little time for games. But one of them later mastered the game of chess, and now teaches it to children in the New York area. VOA’s Bernard Shusman in New York has his story.
Video

Video NASA Monitors Earth’s Vital Signs From Space

The U.S. space agency, NASA, is wrapping up its busiest 12-month period in more than a decade, with three missions launched in 2014 and two this month, one in early January and the fifth scheduled for January 29. As VOA’s Rosanne Skirble reports, the instruments being lifted into orbit are focused on Earth’s vital life support systems and how they are responding to a warmer planet.
Video

Video Crowded Republican Presidential Field Off to Early Start for 2016

It seems early, but the 2016 U.S. presidential election campaign is already heating up. Though no one has officially announced a candidacy, several potential Republican contenders have been busy speaking to conservative groups about making a White House run next year. Many of the possible contenders are critical of the Obama administration’s foreign policy record. VOA national correspondent Jim Malone reports.

Circumventing Censorship

An Internet Primer for Healthy Web Habits

As surveillance and censoring technologies advance, so, too, do new tools for your computer or mobile device that help protect your privacy and break through Internet censorship.
More

All About America

AppleAndroid