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

Advertising

Advertising

Advertising

the European Sting Milestones

Featured Stings

Can we feed everyone without unleashing disaster? Read on

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

A young person’s perspective on the Paris and Beirut attacks and aftermath

Governments can fight corruption by joining the digital payment revolution

If we want to solve climate change, water governance is our blueprint

A critical European young voice on Net Neutrality: the distance between Brussels and Washington

European creativity and digital economy are drowning in a copyright swamp

Venezuelans brave torrential border river, face exploitation, abuse – UN urges greater protection

The global economy is woefully unprepared for biological threats. This is what we need to do

IQ scores have been falling for decades, new study finds

Service Engineer Intern – 1991

The entire Australian state of New South Wales is in drought

EU’s new environmental policy on biofuels impacts both the environment and the European citizen

Scientists are using machine learning to unlock the mysteries of long-dead languages

How curiosity and globalization are driving a new approach to travel

Livelihoods of millions in East and Southeast Asia at risk from Swine Fever epidemic

Migration crisis update: lack of solidarity not only among EU leaders but also EU officials

G20 LIVE: The European Sting covers online world news and the latest developments at G20 from Antalya Turkey

This is our chance to completely redefine the meaning of work

Constitutional Committee breakthrough offers ‘sign of hope’ for long-suffering Syrians

EU mobilises €21 million to support Palestine refugees via the UN Relief and Works Agency

Junker for Commission President: What were the stakes in this affair

The European Union is strengthening its partnership with Senegal with €27.5 million

“16+1” Cooperation injects new vigor into China-Europe cooperation

How can education empower youth to become tomorrow’s leaders

Sassoli: Migration agreement respects fundamental principles of Parliament’s proposal

ILO discusses world of work response to global refugee crisis

UN chief welcomes formation of unity government in Madagascar

Ebola outbreak in DR Congo conflict zone ‘remains dangerous and unpredictable’ – UN chiefs

Trump wants to implicate China in US attacks against global order

India’s economy is growing fast, but its poorest areas lag behind. Here’s why this could be about to change

High level political talks didn’t break the stalemate in Ukraine

We must help developing countries escape commodity dependence

We can save the Earth. Here’s how

Advancing multilateralism goes ‘hand-in-hand’ with work of the UN

How the Middle East is suffering on the front lines of climate change

Populist Eurosceptics helped by Trumpists seriously threaten the EU edifice

‘Continuing absence’ of political solution to Israel-Palestine conflict ‘undermines and compounds’ UN efforts to end wholesale crisis

Skills, not job titles, are the new metric for the labour market

Youth platforms call on German Government to break down legal barriers for young volunteers and pupils

It’s time to switch to a four-day working week, say these two Davos experts

Historic first, as Tolstoy’s War and Peace lands in Geneva, to mark international centenary

YO!Fest back in Strasbourg for the 2nd edition of the European Youth Event – 20-21 May 2016

New UN report launched to help ratchet up action to combat climate crisis

Guterres: Security Council’s African alliances ‘needed and appreciated more than ever’

These are the world’s best universities by subject

The Commission unsuccessfully pretends to want curbing of tax evasion

Girls still being treated as aliens in medicine in the 21st century

‘Severe’ new US asylum restrictions will put vulnerable families at risk, UN refugee agency says

Mother of all mergers between Facebook Messenger, WhatsApp and Instagram: EU Data Privacy restrictions against Facebook’s imperialistic plans

Brexit Preparedness: European Commission adopts final set of “no-deal” contingency measures for Erasmus+ students, social security coordination rules and the EU budget

Two out of every five American couples now meet online

Link between conflict and hunger worldwide, ‘all too persistent and deadly’, says new UN report

Everybody for himself in G20 and IMF

How a more integrated approach could help to end energy poverty

The 5 biggest challenges cities will face in the future

Where labour costs the most (and least) in the European Union

Is Eurozone heading for disinflation?

UN chief praises New Zealand premier’s ‘admirable’ response to Christchurch attacks

FROM THE FIELD: Changing world, changing families

Marking international day, UN experts call for urgent action to end racial discrimination, in wake of New Zealand anti-Muslim attack

UN sees progress in fight against tobacco, warns more action needed to help people quit deadly product

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