New record unemployment in Europe

 

August 31, 2012

Unemployment is growing in the Eurozone and increased by 1.2% and since last year. It affects 25.3 million people.

The area that uses the European currency is at its worst. Unemployment peaked at 11.3% setting a new record, while in the European Union countries the average is 10.4%.

Powered by Greece, Spain and Cyprus, unemployment raised two tenths in the EU, which represents 43,000 people who lost their jobs in June.

Meanwhile, in the Eurozone 88,000 people lost their jobs in the span of a month.

The countries in which unemployment decreased are Estonia (from 13.2% to 10.1% between the second quarter of 2011 and the same period of 2012), Lithuania (15.2% to 13%) and Latvia (from 17% to 15.9%).

Meanwhile, the biggest flood in unemployment was in Greece (16.8% in May 2011 to 23.1% in May 2012), Spain (21.7% to 25.1%) and Cyprus (from 7.7% to 10.9%).