Economics Snapshot - Unemployment in the Euro Zone

There are sixteen member nations inside the Euro Zone and a deepening recession allied to falling prices is putting the monetary union under increasing pressure. Steeply rising unemployment is both an economic and social issue and it is also affecting budget deficits as tax revenues tail away.

The latest unemployment data for the Euro Zone finds that

*158,000 people joined unemployment lines across the euro zone in June, bringing the number of jobless to 14.9 million
*There are more people out of work than the populations of Austria and Ireland combined.
* Youth unemployment is a major problem in Europe. The unemployment rate among those under age 25 was 19.5% in June.
*Spain has the highest unemployment rate at 18.1 percent - followed by Latvia and Estonia.
*The lowest unemployment rates were recorded in the Netherlands (3.3%) and Austria (4.4%)
*UK unemployment is 7.5% of the labour force using the standardised LFS measure
*21.526 million men and women in the EU27, of which 14.896 million were in the euro area, were unemployed in June 2009. 5 million of the unemployed are youth workers.

More here on a 10 year high for European unemployment

Economics Explained, by Evan [12 Feb 2012]
Unit 2 Macro: China’s Trade Engine is Spluttering [10 Feb 2012]
Martin Wolf on Global Shocks [10 Feb 2012]
Trucks are the new way of measuring debt [1 Feb 2012]
Unit 2 Macro: Growth and Development - Some Indicators [30 Jan 2012]
Unit 2 Macro: The Economic Disaster of Youth Unemployment [28 Jan 2012]
Unit 2 Macro: Focus on China - Changing Economic Structure [26 Jan 2012]
Unit 4 Macro: Money, Debt and the New World Order [22 Jan 2012]
France and Flexible Employment [22 Jan 2012]
Unit 4 Macro: Russia Joins the WTO [22 Jan 2012]
Unit 2 Macro: Living below the Breadline [19 Jan 2012]
Unit 4 Macro: France loses her AAA credit rating [15 Jan 2012]
Unit 4 Macro: Economics of Fiscal Deficit Reduction [12 Jan 2012]
Unit 2 Macro: Factors Driving Business Investment [10 Jan 2012]
Hopes and Fears 2012 [10 Jan 2012]
Unit 2 Macro: A Jobs Boost for the US Economy [8 Jan 2012]
Unit 2 Macro: Revision Quiz on Economics of Unemployment [5 Jan 2012]
Unit 4 Macro: Video Resources on Unemployment [3 Jan 2012]
Unit 1 Micro: Low Cost Airlines Beat the Recession [1 Jan 2012]
Unit 4 Macro: Exchange Rate Economics - Where next for the US Dollar? [31 Dec 2011]
European Economics: Resources on the CAP [28 Dec 2011]
2011 in Review - The US Economy [27 Dec 2011]
Unit 2 Macro: The UK Housing Market in 2011 [26 Dec 2011]
Unit 2 Macro: Brazil Overtakes UK in Economic Size [26 Dec 2011]
The Eurozone Crisis Explained (again!) [22 Dec 2011]
Unit 4 Macro: The Rise in Self Employment [17 Dec 2011]
Unit 2 Macro: Long Term Unemployment - A Human Story [15 Dec 2011]
Unit 4 Macro: Celebrating (?) Ten Years of Euro Notes and Coins [2 Dec 2011]
Unit 4 Macro: Does UK Manufacturing have a Future? [30 Nov 2011]
Unit 2 Macro: Will a Youth Jobs Subsidy Work? [30 Nov 2011]
Where is the UK Economy? National Output [22 Nov 2011]
UK unemployment in November 2011 - a video overview [22 Nov 2011]
Beyond the Bike - The Value of Money [19 Nov 2011]
Unit 2 Macro: A Prezi on Unemployment Policies [16 Nov 2011]
Unit 2 Macro: Should the EU introduce a Tobin Tax? [14 Nov 2011]
AS Macro: The State of British Business [13 Nov 2011]
Eurozone crisis - a selection of resources [12 Nov 2011]
Unit 4 Macro: America’s hour-glass economy [9 Nov 2011]
Unit 2 Macro: Video Clips on Unemployment [6 Nov 2011]
Unit 3 Micro: Impulses to Change Management Models [5 Nov 2011]
Unit 4 Macro: Unemployment Chart Resource Download [29 Oct 2011]
Unit 2 Macro: A Widening Regional Divide in Life Expectancy [19 Oct 2011]
Unit 2 Macro: Positive and Negative Multiplier Effects [14 Oct 2011]
UK Unemployment in October 2011 [12 Oct 2011]
Unit 4 Macro: Unit Labour Costs and Inflation [12 Oct 2011]
Unit 2 Macro: UK suffers a weak recovery [12 Oct 2011]
Why Is Macroeconomics Such A Mess? [11 Oct 2011]
NMW: Classical real-wage unemployment [3 Oct 2011]
Greek debt decision tree [25 Sep 2011]
Unit 4 Macro: Greek Economy at Default’s Door [25 Sep 2011]
Unit 2 Macro: Greece on the Brink of Default [25 Sep 2011]
Unit 4 Macro: IMF Flags up Risks of Double Dip [20 Sep 2011]
Study Note - Macroeconomic policy objectives [16 Sep 2011]
Study Note - What is Macroeconomics? [13 Sep 2011]
Public vs Private Sector - the world’s largest employers. [12 Sep 2011]
Unit 2 Macro: Income and Wealth in the UK [12 Sep 2011]
UK Macro: Risks of a Double Dip Recession [12 Sep 2011]
Mixing with the Nobel Economists [4 Sep 2011]
Unit 4 Macro: GDP per person since the credit crunch [19 Aug 2011]
hiphopnomics [31 Jul 2011]
“We need to make more stuff, using the same number of people…” [16 Jul 2011]
What might happen on August 2nd? [12 Jul 2011]
Unit 4 Macro: Dangers of High Inflation [11 Jul 2011]
Unit 2 Macro: Reducing Unemployment after a Recession [11 Jul 2011]
AQA ECON4 Context [20 Jun 2011]
Structural unemployment in the UK - insights for 2011 [13 Jun 2011]
A2 Macro: Consumer Spending [30 May 2011]
Macro Revision: Putting Things in Context [25 May 2011]
AS Macro Key Term: Supply-Side Policies [25 May 2011]
AQA Macro: Remember to revise inflation [25 May 2011]
AS Macro Key Term: Demand Pull Inflation [24 May 2011]
AS Macro Key Term: Deflation [24 May 2011]
PIIGS on the chopping block? [24 May 2011]
AS Macro Key Term: Trend Growth [23 May 2011]
AS Macro Key Term: Economic Recovery [23 May 2011]
AS Macro Key Term: Recession [23 May 2011]
AS Macro Key Term: Spare Capacity [23 May 2011]
AQA A2 Economics - European Context [23 May 2011]
AS Macro Key Term: The Output Gap [23 May 2011]
Revision notes on unemployment [22 May 2011]
A2 Micro: The Importance of Profit [19 May 2011]
A2 Micro: Innovation and Economic Policies [18 May 2011]
AS economics: Using the cost-benefit principle [18 May 2011]
EU Economics: Comparing the UK with Europe [14 May 2011]
UK Economy Update: What Mervyn Said [11 May 2011]
Interest Rates Held at 0.5% once again [5 May 2011]
A2 Micro: Innovation in Markets [4 May 2011]
Macroeconomics revision - measuring Consumer Confidence [4 May 2011]
A2 Macro: Chinese investment in the EU [3 May 2011]
AS Micro: Rising Global Food Prices [2 May 2011]
Video Clips on the Chinese Economy [1 May 2011]
EU Enlargement - Evaluating the Impact [30 Apr 2011]
AS and A2 Macro Revision: Keynesian Economics [28 Apr 2011]
A2 Micro: EU Aviation - State Aid and State Ownership [28 Apr 2011]
AS and A2 Macro Revision: The China Effect [26 Apr 2011]
Australia Booming Ahead [21 Apr 2011]
OCR F585 June 2011: A Brain Drain from Spain? [13 Apr 2011]
In Praise of Farmers and Farming [13 Apr 2011]
Focus on Ireland’s Economy [12 Apr 2011]
AS Macro Key Term: Frictional Unemployment [11 Apr 2011]

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