Home > Uncategorized > Unemployment in the EU, November 2012. Two graphs.

Unemployment in the EU, November 2012. Two graphs.

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  1. January 8, 2013 at 11:59 am

    I would add more explanations : “November 2012 figures: The euro area (EA17) seasonally-adjusted unemployment rate was 11.8% in November 2012, up from 11.7% in October. The EU27 unemployment rate was 10.7% in November 2012, stable compared with October. ” with source: http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/3-08012013-BP/EN/3-08012013-BP-EN.PDF , published today.

  2. sergio
    January 9, 2013 at 3:23 am

    Can you explain why unemployment in Spain and Greece is increasing since 2008?

  3. merijnknibbe
    January 9, 2013 at 10:30 am

    Directly of course because the flow of credit to Spain and Greece halted. In Spain, this led to the bust of the building boom and the destruction of about 2,5 million jobs. Nothing much could have been done to prevent this. At the moment, however, in Spain a SECOND crisis leading to large job losses in the rest of the economy is going on – and lots (!) can be done to mitigate this one. The European system of central bank can print vouchers which enable households to pay down the rigid, inflated, artificial housing debts which will lead to better household balances and less evictions. Remember: the banks got tens of billions to restore their balance sheets, too! Printing vouchers won’t lead to money growth, as they will be distructed when the debts are paid down. Not the Spanish labor market but the Spanish debt market is inflexible and shows nominal rigidities, at the moment!

  4. Oliver
    January 9, 2013 at 7:23 pm

    I see, one is employment, the other unemployment. So unemployed people in Denmark have just stopped collecting benefits and thus drop put of the official statistics, ringing down the unemployment rate below what it would be under Swedish rules?

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