Appalling overall unemployment in Eurozone at 20.6%

László Andor, Member of the EC in charge of Employment, Social Affairs and Inclusion, gave a press conference following the publication of the EC report on industrial relations. According to the report, the ongoing economic crisis poses a serious challenge to the dialogue between workers' and employers' representatives. The report shows that recent government reforms have not always been accompanied by fully effective social dialogue, leading to increasingly conflictual industrial relations in Europe. (EC Audiovisual Services, 11/04/2013).

László Andor, Member of the EC in charge of Employment, Social Affairs and Inclusion, gave a press conference following the publication of the EC report on industrial relations. According to the report, the ongoing economic crisis poses a serious challenge to the dialogue between workers’ and employers’ representatives. The report shows that recent government reforms have not always been accompanied by fully effective social dialogue, leading to increasingly conflictual industrial relations in Europe. (EC Audiovisual Services, 11/04/2013).

As it turns out real total unemployment exceeds by far the already dreadful percentages estimated by the national statistical services of the EU countries. According to a press release issued by Eurostat, the EU statistical service, in the EU of 27 member states apart from the tens of millions of the “normal” unemployed, there is another 43 million people working part-time. Out of them in “2012, 9.2 million (6.2 million in Eurozone) wished to work more hours, were available to do so and can therefore be considered to be underemployed. Since the start of the economic crisis the proportion of part-time workers wishing to work more hours and available to do so, has grown steadily from 18.5% in 2008 to 20.5% in 2011 and 21.4% in 2012”. Mind you those are percentages of part-time workers wishing to work full-time.

The same source reveals that in 2012 the number of people working part-time and wishing to work more but couldn’t find a full-time job was 4.4% of total employment. Unfortunately Eurostat doesn’t tell us what percentage of the total labour force this group of people is. Obviously it will be a bit less than 4.4%. It’s possible however to estimate that.

We know that in 2012 the group of people working part-time but wishing to work more numbered 6.2 million persons in Eurozone. Doing some simple arithmetic calculation one can arrive at the estimate that at that time Eurozone’s labour force was anything around 158 million people. Obviously those 6.2 million persons who wish to work more but can’t find an appropriate job are almost 4% of the total labour force.

Want to work more

Now, the European Sting published an article last week under the title “More unemployment and lower wages to make European workers competitive?” It reported Eurostat’s estimate for February 2013, that in the 17 Eurozone countries 19.071 million people were without a job altogether. That was a round 12% of the labour force. However in order to arrive at an overall unemployment plus underemployment percentage one honest statistician has to add the people who wish to work more, but don’t find a full-time job. That gives us an over-all estimate of unemployment in Eurozone of the order of 16%.

What about the countries with problems? Not to forget that the highest unemployment rates are being recorded in Greece (26.4 % in December 2012), Spain (26.3%) and Portugal (17.5%). Now, Eurostat tells us that “In 2012, the largest proportions of people wishing to work more hours and available to do so among part-time workers were found in … Greece (66%), Spain (55%), Latvia (53%) and Cyprus (50%). On the other hand, the smallest proportion was found in the Netherlands (3%), where part-time working is the most common, followed by Estonia (8%) and the Czech Republic (10%).

Permanently lost

Eurostat takes its present research a step forward by trying to estimate the number of people available to work but belonging to the group of the economically inactive population (those persons neither employed nor unemployed). According to the same source there were 8.8 million persons aged 15 to 74, but not seeking and 2.3 million seeking work, but not available in the EU27 in 2012”. Despite not participating in the economically active population, those persons have a strong attachment to the labour market. Together these two groups constitute a potential additional labour force of 11 million people. In the EU27 these two groups were equivalent to 4.6% of the labour force, a percentage varying between Member States, from 1.5% in the Czech Republic to 12.1% in Italy.

Obviously there exist more people who wish to work but don’t find a job. In reality they must be added to the overall unemployment rate, because all those more millions would take up productive employment, if the labour mark gave them a chance. In short the overall unemployment rate is 16% + 4.6% = 20.6%. Then one can imagine what really happens in Greece and Spain where the standard unemployment rate is 27% (Eurozone average 12%). Reality there must be real truly appalling. Large parts of the younger and the older being unemployed for more than a year, must be counted as permanently lost from labour market. This will be an insurmountable impediment to growth, if and when the good times come again.

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

the European Sting Milestones

Featured Stings

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

Libya: EU efforts should focus on protecting migrants, MEPs say

This new way of understanding disease is changing medicine

Action needed to end deadly clashes between African herders and farmers: UN chief

The four top Americans who flew to Europe perplexed things about Trump’s intentions

“A Junior Enterprise is run only by students.. there are no professors or managers that can help you solve your problems”

EU-India summit: Will the EU manage to sign a free trade agreement with India before Britain?

Africa-Europe Alliance: first projects kicked off just three months after launch

The German automotive industry under the Trump spell

Fight against climate change and poverty will fail without overhaul of global financial system, says major UN report

Eurozone closer to a deflation – stagnation trap

Why Commissioner Rehn wants us all to work more for less

Syrian Refugees in Germany face distinctly different challenges than those in Lebanon

Consumers suffer three defeats

Is a full course lunch, a new Commissioner and 2 million anti-TTIP citizens what you would call a “Fresh Start”?

What we take for granted: The EU is not perfect

Who the US and China have trade disputes with

EU makes key TTIP document public as protests get louder

ILO’s Bureau for Employers´Activities to publish new study on women in business and management

3 autonomous vehicle trends to follow in 2019

Second Facebook-Cambridge Analytica hearing: impact on privacy, voting and trust

This is what a planet-wide network of ocean sanctuaries could look like

EU budget: the Common Agricultural Policy beyond 2020

‘Global care crisis’ set to affect 2.3 billion people warns UN labour agency

Guatemala: UN anti-corruption body will continue working, as Constitutional Court blocks Government expulsion

COP21 Breaking News_03 December: Unprecedented Global Alliance for Buildings and Construction to Combat Climate Change

Why the ECB prepares to flood the markets with more and free of charge euro; everybody needs that now

This is our chance to completely redefine the meaning of work

Greece and Ukraine main items on EU28 menu; the course is set

Eurozone: The crisis hit countries are again subsidizing the German and French banks

The Indian miracle state pointing the way to global sustainability

EU Commission: Germany can make Eurozone grow again just by helping itself

Chinese Premier Li Keqiang’s speech from World Economic Forum’s Annual Meeting of New Champions

Press coverage of migration crisis in Europe: a call for collaborative action

Parliament demands ban on neo-fascist and neo-Nazi groups in the EU

Climate change recognized as ‘threat multiplier’, UN Security Council debates its impact on peace

2 trillion drinks containers are made every year – so where do they go?

Water supply a human right but Greeks to lose their functioning utilities

Darfur: Inter-communal tensions still high despite improved security, Mission head tells Security Council

Brexit: when the hubris of one man can set the UK, the EU and the entire world on fire

Marking Sir Brian Urquhart’s 100th birthday, UN honours life-long servant of ‘we the peoples’

Mandela, ‘true symbol of human greatness’, celebrated on centenary of his birth

ECB’s first flight in Eurozone’s banking universe will be just a reconnaissance

Syria: ‘Violence, displacement’ and cold kill 11 infants ‘in the past two days’

Tuesday’s Daily Brief: Bicycles for the environment, new leader for the UN General Assembly, UN values, Ebola, Syria and Libya

EU-China Light Bridge in Brussels signals the bright coming of the Year of The Dog

‘Never give up’: UN chief urges all who serve, marking UN Day

Venezuela: UN human rights office calls for ‘maximum restraint’ by authorities in face of new demonstrations

The EU Commission does nothing about the food retailing oligopoly

MEPs want to ensure sufficient funding for Connecting Europe’s future

We need to talk about failure in the social sector

Long live Eurozone’s bank supervisor down with the EU budget supremo

Why Obama asks approval from Congress to bomb Syria?

UK voters sent strong message to May and Corbyn for soft Brexit

COP21 Breaking News_05 December: Ban Ki-Moon Closing Address at COP21 Action Day Innovation, Imagination, Faster Climate Action

The 28 EU leaders show contempt for the European Elections results

WEF Davos 2016 LIVE: “No other problem has jeopardised the EU as much as the refugee question” Joachim Gauck, President of the Federal Republic of Germany, cries out from Davos

Love unlimited

Medical students of today, technological doctors of tomorrow

Why Eurozone urgently needs the ECB to print and distribute at least €500 billion

European Youth Forum welcomes the European Commission’s proposed revision of the Union Code on Visas, however it does not go far enough

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s