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Economy
In reply to the discussion: STOCK MARKET WATCH - Tuesday, 31 January 2012 [View all]
xchrom
(108,903 posts)33. Euro zone jobless hits highest level since birth of euro
http://uk.reuters.com/article/2012/01/31/uk-eurozone-unemployment-idUKTRE80U0JV20120131
(Reuters) - Euro zone unemployment has risen to its highest level since before the euro was introduced, data showed on Tuesday, a day after EU leaders promised to focus on creating millions of new jobs to try to kickstart Europe's floundering economy.
Joblessness among the 17 countries sharing the single currency rose to 10.4 percent in December, on a par with an upwardly revised November figure, the EU's statistics office Eurostat said in its release of seasonally-adjusted data.
It was the highest rate since June 1998, before the euro was introduced in 1999.
"We're looking at a further increase over the coming months, so that is worrying," said Martin van Vliet, an economist at ING. "Look at Greece, where unemployment is some 20 percent, and it is 23 percent in Spain. At a certain point this could lead to political unrest."
(Reuters) - Euro zone unemployment has risen to its highest level since before the euro was introduced, data showed on Tuesday, a day after EU leaders promised to focus on creating millions of new jobs to try to kickstart Europe's floundering economy.
Joblessness among the 17 countries sharing the single currency rose to 10.4 percent in December, on a par with an upwardly revised November figure, the EU's statistics office Eurostat said in its release of seasonally-adjusted data.
It was the highest rate since June 1998, before the euro was introduced in 1999.
"We're looking at a further increase over the coming months, so that is worrying," said Martin van Vliet, an economist at ING. "Look at Greece, where unemployment is some 20 percent, and it is 23 percent in Spain. At a certain point this could lead to political unrest."
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