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

Karzai's Legacy: Missed Opportunities?

Afghanistan's president leaves behind a much different nation than the one he inherited, yet his legacy from 13 years in power is getting mixed reviews More

Secret Service Head: Breach Won't Happen Again

Julia Pierson tells a House panel investigating a recent intrusion at the White House: 'It is clear that our security plan was not executed properly' More

Frustrated, Liberian Students Want Ebola Fight Role

Thousands have volunteered to go to counties, rural villages to talk to people in their language about deadly virus 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.
Malaysia Struggles to Stop People Joining Jihadi
X
Mahi Ramakrishnan
September 30, 2014 2:16 PM
Malaysian authorities say militant groups like the so-called "Islamic State" have used social media to entice at least three dozen Malaysian Muslims to fight in what they call "jihad" in Syria and Iraq. As Mahi Ramkrishnan reports from Kuala Lumpur, counterterrorism police are deeply worried about what could happen when these militants return home.
Video

Video Malaysia Struggles to Stop People Joining Jihad

Malaysian authorities say militant groups like the so-called "Islamic State" have used social media to entice at least three dozen Malaysian Muslims to fight in what they call "jihad" in Syria and Iraq. As Mahi Ramkrishnan reports from Kuala Lumpur, counterterrorism police are deeply worried about what could happen when these militants return home.
Video

Video Could US Have Done More to Stop Rise of Islamic State?

President Obama says airstrikes against Islamic State militants in Syria will likely continue for some time because, in his words, "there is a cancer that has grown for too long." So what if President Obama had acted sooner in Syria to arm more-moderate opponents of both the Islamic State and the Syrian government? VOA State Department Correspondent Scott Stearns reports from the United Nations.
Video

Video Treasure Hunters Seek 'Hidden Treasure' in Central Kenya

Could a cave in a small village in central Kenya be the site of buried treasure? A rumor of riches, left behind by colonialists, has some residents dreaming of wealth, while others see it as a dangerous hoax. VOA's Gabe Joselow has the story.
Video

Video Iran's Rouhani Skeptical on Syria Strikes

Iranian President Hassan Rouhani expressed skepticism Friday that U.S.-led airstrikes in Iraq and Syria could crush Islamic State militants. From New York, VOA’s Margaret Besheer reports the president was also hopeful that questions about Iran’s nuclear program could be resolved soon.
Video

Video US House Speaker: Congress Should Debate Authorization Against IS

As wave after wave of U.S. airstrikes target Islamic State militants, the speaker of the Republican-controlled House of Representatives says he would be willing to call Congress back into session to debate a formal, broad authorization for the use of military force. VOA’s Michael Bowman reports from Washington, where legislators left town 10 days ago for a seven-week recess.
Video

Video Ebola Patients Find No Treatment at Sierra Leone Holding Center

At a holding facility in Makeni, central Sierra Leone, dozens of sick people sit on the floor in an empty university building. They wait in filthy conditions. It's a 16-hour drive by ambulance to Kailahun Ebola treatment center. Adam Bailes was there and reports on what he says are some of the worst situations he has seen since the beginning of this Ebola outbreak. And he says it appears case numbers may already be far worse than authorities acknowledge.
Video

Video Identifying Bodies Found in Texas Border Region

Thousands of immigrants have died after crossing the border from Mexico into remote areas of the southwestern United States in recent years. Local officials in south Texas alone have found hundreds of unidentified bodies and buried them in mass graves in local cemeteries. Now an anthropologist and her students at Baylor University have been exhuming bodies and looking for clues to identify them. VOA’s Greg Flakus has more from Waco, Texas.
Video

Video Ebola Robs Liberians of Chance to Say Good-Bye to Loved Ones

In Liberia, where Ebola has killed more than 1,500 people, authorities have worked hard to convince people to allow specialized burial teams to take away dead bodies. But these safety measures, while necessary, make it hard for people to say good bye to their loved ones. VOA's Anne Look reports on the tragedy from Liberia.
Colonel Steve ‘Spiros’ Pisanos left Greece and came to the U.S. to learn to fly. He flew fighters for the Allies in World War II, narrowly escaping death multiple times.Colonel Steve ‘Spiros’ Pisanos left Greece and came to the U.S. to learn to fly. He flew fighters for the Allies in World War II, narrowly escaping death multiple times.

AppleAndroid