When will Eurozone’s unemployment rate stop being Europe’s worst nightmare?

 

László Andor, Member of the EC in charge of Employment, Social Affairs and Inclusion (EC Audiovisual Services)

László Andor, Member of the EC in charge of Employment, Social Affairs and Inclusion (EC Audiovisual Services)

Eurostat, the statistical office of the European Union estimated on Tuesday that the euro area unemployment rate was 11.6% in May; stable compared to April but reduced by 0.4% to last year’s measurements. The agency mentions that 18,552 million men and women were unemployed in May 2014; a decrease of 636.000 compared to May 2013. It seems that a year has passed but the Eurozone is still suffering from the burden called job creation which is not letting the European economy flourish.

South’s high unemployment rates demand immediate action

The highest jobless rates were recorded in Greece (26.8% in March) and Spain (25.1%). These counties are the ones that are contributing to a great extent to the high euro area unemployment rate that we are facing. Also, Italy’s unemployment rate has increased to 12.6% which indicates that the southern counties have something in common, many people are looking for a job but cannot find one. On the other hand, Austria and Germany were the “winners” in this battle reaching lowest levels of 4.7% and 5.1% respectively. Thus, the main conclusion at this point is that EU must focus on the countries with the highest employment rates so as to lower the overall figures. EU has to provide plenty of funds in order to create more jobs and deal with this long-lasting issue. However, it is very important that these funds will be well-exploited by the national governments as well.

Europe: a continent of aged workforce

The old continent has been transformed into a place where the people composing the manpower are much older than in the past. The numbers are more than revealing; 3,356 million young persons (under 25) were unemployed in May. The overall percentage is 23.3% of which 11.5% were males and the remaining 11.7% females. Furthermore, Greece with a 57.7% (March 2014) and Spain with 54% are the worst among the euro countries. It is devastating when you realize that the people that are contributing the most to pensions of the elders are not actually doing so because they are jobless. EU must take care of them by trying to provide them with jobs in order to bring growth and sustainability to the youth of each country.

Unemployment has a direct impact on Europe’s growth

Growth is still anemic and certainly unemployment is one of the factors that is pushing the rates down. “A mild recovery continues but it is still leaving many people behind. We can only really speak of a proper recovery when Europe’s economy creates new jobs in hundreds of thousands every month on a sustained basis” European Commissioner for Employment Laszlo Andor said.

A good example is Siemens that a week ago decided to cut about 1 billion euros in costs which basically means that more than 11.600 people will be fired. And we observe that not from a struggling SME but from one of the largest European engineering companies. European institutions and bodies have to figure out a permanent solution for this problem that plagues all societies and is creating damages to people and especially to young persons. It is not rare to encounter unsociable and depressing behaviours because people are unemployed and left in a deadline for a long period of time. It is time for Europe to stand and face unemployment once and for all.

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

the sting Milestone

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

FROM THE FIELD: Faces and Voices of Conflict

The Syrian knot cannot be cut without devastating consequences

Road safety: Data show improvements in 2018 but further concrete and swift actions are needed

EU migrant crisis: Germany, France and UK to show the way. Will the rest of the EU follow?

Humanitarian Aid: additional €50 million to tackle drought in the Horn of Africa

Inspiring young doctors: the beginning of the change

This team of Saudi women designed an award-winning app to make the Hajj safer

EU, Brazil to hold high level Summit in Brasilia

Syria: Urgent, concrete actions needed, to protect children too young to ‘make sense of this senseless war’

Fighting cybercrime – what happens to the law when the law cannot be enforced?

Despite violence, ‘tremendous hunger’ for peace in Afghanistan: top UN official

On flight to sustainable development, ‘leave no country behind’, urges aviation agency

The new Kiev rulers ask $35 billion from the West

Climate change is destroying a barrier that protects the US from hurricanes

“Will TTIP solve the massive EU-US unemployment? Absolutely not!” A revealing Sting Exclusive with Tim Bennett from the Transatlantic Business Council

EU to manage external borders against the will of member states; Greece to be the first target

These EU countries have the most government debt

No tears for Cyprus in Brussels and Moscow

What changes in the EU as from today

‘No shortcuts to a healthier world’: WHO chief sets out health priorities for the decade

Companies that put employees first perform better

Why do medical students have to emigrate to become doctors in 2017?

How technology can help us achieve universal healthcare

UN mission welcomes Afghan government’s announcement of Eid holiday ceasefire

Drowning in the Mediterranean this summer? Many happy returns

Millennials aren’t voting – but these young leaders have a plan to change that

Here are 4 ways investors can influence more secure and responsible innovation

These companies can recycle nearly anything, from cigarette butts to fax machines

Dieselgate: Parliament calls for mandatory retrofits of polluting cars

German heavy artillery against Brussels and Paris

A voice from Syria: the positive prospect of clinical research despite the excruciating circumstances

How Costa Rica’s environment minister talks to his daughter about climate change

Commission reports on progress in risk reduction in the Banking Union and calls for faster progress on Capital Markets Union ahead of EU Leaders’ meetings

Commission’s Youth Initiative fails first hurdle by not sufficiently consulting young people

5 surprising ways major cities are going green

Alarming number of women mistreated during childbirth, new UN health agency figures show

How fixing broken food systems can help us meet all the SDGs

‘Bicycle Kingdom’ makes a comeback, as China seeks solutions to tackle air pollution crisis

Draghi’s top new year resolution: Quantitative Easing

A neo-liberal toll free Paradise for the super rich and tax hell for wage earners

Who is to profit from the quasi announced ECB rate cut?

New energy security framework will help meet growing needs in East Africa, sustainably – UN economic wing

How the powerful science of behaviour change can make us healthier

Will the European Court of Justice change data privacy laws to tackle terrorism?

Business should be joyful – just ask the sports world

3 things the G20 can do to save the World Trade Organization

Ukraine-EU deal sees the light but there’s no defeat for Russia

Two-thirds of employees would trust a robot boss more than a real one

Germany and France only care about keeping their borrowing cheap

UN spotlights digitization of audiovisual archives to preserve human history on World Day

What makes Copenhagen the world’s most bike-friendly city?

The impossible end of the war in Syria

Foreign Affairs Council (Trade) of 22/05/2018: EU relations with key trading partners

Cape Town’s crisis shows us the real cost of water

Can a Bavarian Oktoberfest beer indulger bring down the Berlin government?

Sudan: Amidst deaths, injuries, imprisonments, UNICEF stresses children’s protection ‘at all times’

Security Council urged to act with ‘one strong voice’ on raft of ills plaguing Middle East and North Africa

We must help developing countries escape commodity dependence

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

Zuckerberg preaches that Artificial Intelligence will protect Data Privacy in Facebook whereas Verhofstadt demands the big European state to take charge

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