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

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

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

Europe eyes to replace US as China’s prime foreign partner

Young people all over the world come together to demand paid good quality internships

IMF asks Europe to decide on bank resolutions and the Greek Gordian knot

Armenia should take vigorous measures against entrenched corruption

State aid: Commission invites comments on simplified rules for State aid combined with EU support

De Gucht: More gaffes with the talks on the EU-US free trade agreement

These countries are the most peaceful – in 3 charts

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

Air quality: Commission takes action to protect citizens from air pollution

New book honours UN women who made HERstory

Half of Eurozone in deflation expecting salvation from monetary measures

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

Is “Sustainable Development” a concept that integrates Health Literacy and Health Policy as a global health action?

Parliament criticises Council’s rejection of money laundering blacklist

Draghi left alone with no hope of boosting EU growth as Merkel just focuses on next elections

China, forever new adventures

Russia can no longer be considered a ‘strategic partner’, say MEPs

From diamonds to recycling: how blockchain can drive responsible and ethical businesses

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

Good grub: why we might be eating insects soon

EU-US to miss 2015 deadline and even lose Germany’s support in TTIP’s darkest week yet

These rules could save humanity from the threat of rogue AI

A Europe that Protects: Commission calls for more efforts to ensure adoption of security proposals

Mosul’s ‘3D contamination’ adds to challenges of deadly mine clearance work

Health Committee MEPs back plans to boost joint assessment of medicines

COP21 Breaking News_10 December: UN Climate Chief Calls for Final Push to Meet Adaptation Fund Goal Very Close to Target

UN condemns attack that leaves one ‘blue helmet’ dead in Central African Republic

Young people are not a nameless, faceless mass. So why do we treat them as such?

UN chief welcomes DR Congo President’s promise to stand down

UN rights chief ‘alarmed’ by upsurge in attacks against civilians in Syria’s Idlib

UN chief lauds Fijians as ‘natural global leaders’ on climate, environment, hails ‘symbiotic relationship’ with land and sea

Assassinations in Ethiopia amidst regional ‘coup’ attempt, condemned by UN chief

UN sounds alarm as Venezuelan refugees and migrants passes three million mark

Europe split in confronting the US sanctions on Iran, Washington isolated

What the global Internet’s stakeholders can learn from Europe’s new data law

Civil society organisations disenchanted with “Youth Guarantee”

Pedro Sánchez: We must protect Europe, so Europe can protect its citizens

Fashion has a huge waste problem. Here’s how it can change

Where America’s refugees came from in 2018

Sochi not far away from Ukraine

Is it too soon to hope for a tobacco free Romania?

How Eurozone consumers spend their income when they have one…

Uncovered liabilities of €5 billion may render EU insolvent

Why climate change matters for future health professionals

The AI doctor won’t see you now

Seize the opportunities of digital technology to improve well-being but also address the risks

“C’est la vie”? French recession and unemployment to linger in Eurozone

INTERVIEW: Poverty, education and inclusion top new General Assembly President’s priority list

Rare Disease Day: a new EU platform to support better diagnosis and treatment

6 things to know about the General Assembly as UN heads into high level week

COP21 Business update: Companies urge now for carbon pricing as coal is still a big issue

Facebook has built an AI-based tool that fixes the social network when it crashes

OECD Donor countries need to reform development finance to meet 2030 pledge

Member states jeopardising the rule of law will risk losing EU funds

UN committed ‘to support the Libyan people’ as Guterres departs ‘with deep concern and a heavy heart’

It’s not your imagination, summers are getting hotter

The Amazon is reaching a dangerous tipping-point. We need to scale solutions now if we have any chance of saving it

A 550 km-long mass of rotting seaweed is heading for Mexico’s pristine beaches

French full-body veil ban, violated women’s freedom of religion: UN Human Rights Committee

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