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Bloomberg.com – Euro-Area Unemployment Reaches Record 11%, Led by Spain
The jobless rate in the 17-nation euro zone was at 11 percent in April and March, the European Union’s statistics office in Luxembourg said today. That’s the highest since the data series started in 1995. The March figure was revised higher to 11 percent from 10.9 percent estimated earlier. … Spain, whose government is struggling to contain a banking crisis, had the bloc’s highest unemployment rate at 24.3 percent, up from 24.1 percent in March, today’s report showed. In France, the jobless rate rose to 10.2 percent from 10.1 percent, while Italy reported the same increase. Portugal’s rate reached 15.2 percent, up from 15.1 percent.

Source: Bianco Research

Category: Employment, Think Tank

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One Response to “US v EU Unemployment”

  1. tim73 says:

    You still trust the US unemployment rate calculations?! According to BLS: “Persons are classified as unemployed if they do not have a job, have actively looked for work in the prior 4 weeks, and are currently available for work…Passive methods of job search do not have the potential to result in a job offer and therefore do not qualify as active job search methods. Examples of passive methods include attending a job training program or course, or merely reading about job openings that are posted in newspapers or on the Internet. ”

    Yeah, after frantically submitting about 100 resumes and getting no answers most unemployed probably just give up but that does not mean they are not unemployed. I’d bet the real figure is closer to that “alternative” calculation U-6, 14.8 percent for last month. Plus the birth-death model is a joke. Revisions of hundreds of thousands of jobs to the downside every year.