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Wednesday, January 8, 2014

Alarming EU unemployment levels continue in 2014

Just like most EU cities, particularly those in the euro area, the streets of Brussels are packed with young people who cannot find a job. According to Eurostat, the EU's statistical agency, an additional 19,000 people joined the dole queues in the EU during the month of November.
There are 26.5 million adults unemployed in the EU, 19 million of whom live in the eurozone. From November 2012 to November 2013, unemployment rose by 452,000. 1 in 3 adults are unemployed in Greece and Spain. 5.6 million young adults, under the age of 25, are unemployed in the EU. Some argue that the EU institutions are to blame for not properly managing immigrations. Some economists are forecasting that it could be up to four years before there is a significant improvement to the eurozone's crippling unemployment problem and that's possible only if states are not hit by a new economic crisis in the meantime.

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