Plight of workers in Europe continues to worsen (graph)

from David Ruccio source [pdf] The grim, austerity-induced plight of workers in Europe continues to worsen. The euro area seasonally adjusted unemployment rate was 11.8 percent in November 2012, up from 11.7 percent in October. The European Union unemployment rate was 10.7 percent in November 2012, stable compared with October. In both zones, rates have risen markedly compared with November 2011, when they were 10.6 percent and 10.0 percent respectively. The situation is particularly stark for young people. In November 2012, 5.799 million young persons (under 25) were unemployed in the Eur0pean Union, of whom 3.733 million were in the euro area. Compared with November 2011, youth unemployment rose by 329 000 in the union and by 420 000 in the euro area. In November 2012, the youth unemployment rate was 23.7 percent in the union and 24.4 percent in the euro area, compared with 22.2 percent and 21.6 percent respectively in November 2011. In November 2012 the lowest rates were observed in Germany (8.1 percent), Austria (9.0 percent) and the Netherlands (9.7 percent), and the highest in Greece (57.6 percent in September 2012) and Spain (56.5 percent).

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