Unemployment across euro countries rises to record 12.2 percent in April

MrBates2

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LONDON — The unemployment rate across the 17 European countries that use the euro hit a record 12.2 percent in April, and the number of unemployed is on track to reach 20 million by year’s end.

The worsening jobs crisis points to the recession that has gripped the euro alliance. Many countries are struggling to stimulate growth while grappling with a debt crisis that’s led governments to slash spending and raise taxes.

Unemployment in the eurozone rose in April from the previous record of 12.1 percent set in March, Eurostat, the European Union’s statistics office, said Friday. In 2008, before the worst of the financial crisis, the rate was far less — around 7.5 percent.

The number of unemployed rose 95,000 to 19.38 million. The currency bloc’s population is about 330 million.

Private companies in the eurozone haven’t managed to fill the vacuum created by drastically reduced government spending. In the United States, by contrast, governments have imposed far milder spending cuts and tax increases. Unemployment, at 7.5 percent, is far lower. And consumers and private companies have kept spending, steadily if modestly.
 
Adjusted for season and inflation it comes to 0% which proves that more Keynes is needed.
 
Do teh math!

Recession + Euroausterity = Rising Unemployment
Recession + classic Keynesian stimulus = Falling Unemployment
 
Few get the basic idea that prosperity is the end result of innovation and productivity. More paper money is just more paper money.

If Obama built an industrial park and filled it with factories to make hula-hoops and 8 track players and poodle skirts and steel skates and Polaroid cameras none of it would improve life in America one iota (an Iota is a Barbie-size coin).
 
Lots of disparity between nations, just like I bet there is between states in America?
 
UK unemployment rate is 7.8% as announced a couple of weeks ago.

Spain? 24.4%

Greece? 27%

In UK, Spain and Greece unemployment among young people is (18-24 UK) 17.7%; 15-24 Spain 37.9%, Greece 43.1%

Note: In UK, 15-18 years-old are in compulsory education.
 
Lots of disparity between nations, just like I bet there is between states in America?

Yes, and disparities within nations. In some parts of the UK e.g Winchester, unemployment is effectively zero, allowing for people switching jobs; in other parts e.g Hull, long-term unemployment with people out of work for longer than a year is significantly higher than almost anywhere else and reaches Greek levels.
 
Few get the basic idea that prosperity is the end result of innovation and productivity. More paper money is just more paper money.

If Obama built an industrial park and filled it with factories to make hula-hoops and 8 track players and poodle skirts and steel skates and Polaroid cameras none of it would improve life in America one iota (an Iota is a Barbie-size coin).

People buy what is available in stores. If all that was available in stores were those items you mention, that's what most people would buy and that's what would therefore be considered "cool" even after several decades.
 
Few get the basic idea that prosperity is the end result of innovation and productivity. More paper money is just more paper money.

If Obama built an industrial park and filled it with factories to make hula-hoops and 8 track players and poodle skirts and steel skates and Polaroid cameras none of it would improve life in America one iota (an Iota is a Barbie-size coin).

In what way do you mean it wouldn't improve life? Ok, 8-tracks I could do without, but the other items, I don't see anything wrong with them. Why do we need to have new consumerist crap all the time, particularly if its not even made in the US?
 
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Forget the middle east junk, if Europe implodes, there goes the entire world....
 
In what way do you mean it wouldn't improve life? Ok, 8-tracks I could do without, but the other items, I don't see anything wrong with them. Why do we need to have new consumerist crap all the time, particularly if its not even made in the US?

Good edit, ruse...

..."lassie-faire conservatives" is definitely an oxymoron.
 
Forget the middle east junk, if Europe implodes, there goes the entire world....

Europe is a demographically shrinking and culturally vapid empty hole already. For all its great contributions to world culture and progress in the past, Europe today will hardly be missed.

East Asia, India, South America, even Africa, are the future. Russia would be as well, except it faces the same demographic problems as the rest of Europe though culturally and socially it hasn't as badly lost its collective mind.
 
Good edit, ruse...

..."lassie-faire conservatives" is definitely an oxymoron.

Lassie-faire?

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