EU Unemployment Tops 26 Million for First Time

Europe UnemploymentBy DON MELVIN

BRUSSELS -- Unemployment in the 17 EU countries that use the euro rose to 11.8 percent in November, as the number of jobless people in the region rose to 18.8 million, the highest figure since the single currency was founded in 1999.

According to data released Tuesday by the EU's official statistics agency, eurozone unemployment was up 0.1 percentage points over October -- but up a full 1.2 percentage points from a year ago. The rate for the 27-member European Union was 10.7 percent, the same as in October, but up from 10.0 percent a year ago. The number of unemployed across the full EU topped 26 million.

The figures illustrate the daunting tasks confronting European Union officials. While the threat of a collapse of the eurozone due to too much government debt may have receded, the economies in many EU countries stubbornly refuse to expand and joblessness continues to rise, creating broad social crises.

As part of their efforts to reduce their debt levels, governments across Europe have introduced tough austerity measures, such as slashing spending and raising taxes. However, measures such as cutting wages and pensions hit the labor force in the pocket and reduce demand in the economy.

Other measures taken alongside the austerity, such as reforming labor practices, and boosting skills and education, are intended to promote employment but they take time, both to enact and to feed through an economy.

As unemployment across the eurozone continues to rise, many analysts are concerned whether the political will to continue to cut budgets can be sustained.

The biggest rise in unemployment over the past year took place in Greece, where joblessness soared to 26 percent in September, up 7.1 percentage points over September 2011's 18.9 percent. But the highest overall rate in the EU was in Spain, where 26.6 percent of the workforce was jobless in November, up 3.6 percentage points over last year.

By contrast, Austria posted the lowest unemployment rate in the EU, at 4.5 percent. The rate in Luxembourg was 5.1 percent, and the rate in Germany was 5.4 percent.

Among larger economies, the seasonally adjusted unemployment rate in Britain was 7.8 percent, and in France it was 10.5 percent.

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mrspelosi

chris1011
I pay more in federal taxes than you make at your job in a year. Much much more. Tell me about welfare...

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Give it up doll. No one is buying your nonsense. Chris if you have questions about your welfare benefits you should consult with your case worker dear. That person should be able to answer your questions darling.

January 08 2013 at 5:53 PM Report abuse +1 rate up rate down Reply
mrspelosi

somey5
Those naughty naughty BarryBaggers

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Somey when it comes to being naughty you stand at the head of the class dear.

January 08 2013 at 2:27 PM Report abuse rate up rate down Reply
theycallmeroy3

You know, I know, we all know the fight is going to be about entitlements. The last go-around- came with Boehner and Obama agreeing to chained CPI. Here's where we all are...doomed... they both walked away, because neither wanted to be blamed for it.

January 08 2013 at 1:41 PM Report abuse -2 rate up rate down Reply
mrspelosi

partyofnohastogo
Republican party = givers of corporate welfare

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My dear dear friend Govenor Quinn of Illinois loves gving out corporate welfare darling. My husband also looks forward to his corporate welfare too dearest

January 08 2013 at 1:33 PM Report abuse +1 rate up rate down Reply
mrspelosi

partyofnohastogo
Hmmmmm....what do you call when Wallstreet and the Banks gets bailed out by tax payers for their recklessness, greed, and corruption as a result of the financial collapse of 2008? Socialism.

What do you call it when the republicans in the house give billions of dollars of tax payer subsidies ( corporate welfare) to big oil companies even though they're already making record profits? Socialism.

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What do I call corporate welfare? Corporate welfare is what helped me and my husband build our multi-million dollar fortune darling. Anything else I can answer for you dearest?

January 08 2013 at 1:31 PM Report abuse +2 rate up rate down Reply
razaminaz

Don't worry EU, the US is trying its best to catch up to you.

January 08 2013 at 12:45 PM Report abuse -5 rate up rate down Reply
Alan

sooner or later the Piper has to be paid.

January 08 2013 at 12:20 PM Report abuse -2 rate up rate down Reply
nadiz6

As long as several countries in Europe continue on the same liberal policies that bankrupt this countries, the unemployment rate will continue to rise in Europe .US will be next if it continue in the same current policies of excessive government spending and borrowing, expansion of entitlement programs that are running large deficits and ignoring the rapid rise of US deficit ,the end result will be the devalue of the dollar ,high inflation and loss of jobs to the middle and low income people and high unemployment rate to all Americans.

January 08 2013 at 12:19 PM Report abuse -2 rate up rate down Reply
1 reply to nadiz6's comment
theycallmeroy3

If I just had a trillion dollar coin for everytime I've read this. Probably make some nice coasters. Long on reason, short on solutions. Think of a way for politicians on boths sides to make a major mea culpa to the American public. Unless you're arguing Conservatives don't want their Medicare and Social Security.

January 08 2013 at 1:06 PM Report abuse -4 rate up rate down Reply
Alan

Transition from a Public Sector to private sector employment will certainly create some pain, but its obvious by Greece and Spains problems that Public Sector employemnt is unsustainable. In the US , we have 2.65 million Federal Employees. Thats over 50,000+ for each state of the Union and doesn`t include State Employees. As a voting block, they and their Unions have no incentive to thin their ranks. What they don`t seem to appreciate, is that those of us who pay their salaries and benefit packages are no longer able to afford them.

January 08 2013 at 12:11 PM Report abuse +1 rate up rate down Reply
1 reply to Alan's comment
rickahight

Sorry Alan you will likely get slammed by the irrational liberals for thisj one. Although what you are saying is fact.

Obama won the popular vote by less than 5 million votes out of 126. A vast majority of the federal employees, unions and all entitlement receipients that voted, cast their ballot for Obama. The number of the federally funded (excluding Social Security) or paid voters is staggering and has to be in the 15 to 20 million range if not significantly larger.

January 08 2013 at 12:54 PM Report abuse +1 rate up rate down Reply
ltpar

Got to love the EU and the promoters of a One World Government. Hell, their Socialist Programs are bankrupting Europe faster than ours are tearing down the United States. The big money boys have to be taking a beating? Looks like the only "One World," we will have will be one where everybody is destitute?

January 08 2013 at 11:54 AM Report abuse -3 rate up rate down Reply