Map and graph of the day: regional unemployment in Europe
Today, Eurostat published the 2014 regional unemployment data.
A) Very large regional differences in Belgium and Italy (in Spain too, but the lowest rate in Spain is thus high that this is less interesting)
B) These differences used to be very large in Germany, too, but not anymore. Some East German regions even have lower unemployment than some West German regions. But on average, unemployment in East-Germany is still very high (about 10%). I didn’t check 2014 but until 2014 the larger part of the decline of unemployment in East Germany was caused by out-migration, not by job growth.
C) Look at Poland and the remarkable developments in the former German territories.
D) Including France and Slovenia there are 13 countries (13!) with average unemployment of about 10% or higher… Let’s write down those debts (starting with a trillion, or so), or issue helicopter money which people can use to pay these debts and start working again, instead of pushing ideological agenda’s. Yes, part of my pension is invested in these debts. But a prosperous Europe is, as far as I’m concerned, a much better pension guarantee than unsustainable debt levels.
E) Long term unemployment is remarkably low in Sweden. In Attika (Greece) it is 77%. Not a typo.
F) Message to young people in Southern Europe: go north. Now.