Monday April 21, 2014 Search
Weather | Athens
17o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Eurozone joblessness hits highest ever level in March, April

Eurozone joblessness in March and April rose to the highest level since the EU began tracking unemployment data for the currency area, highlighting the devastating impact of the bloc's debt crisis.

Around 17.4 million people were out of work in the 17-nation eurozone in April, or 11 percent of the working population, the highest level since records began in 1995, the EU's statistics office Eurostat said on Friday.

The level was the same as March, as Eurostat revised upwards its earlier reading of 10.9 percent for the month.

While expected by economists polled by Reuters, the data came as a key business sentiment survey showed the deep slump in manufacturing across the eurozone and appeared to suggest the bloc's economy will shrink in the second quarter of this year.

The bloc narrowly avoided recession in the first three months of this year as the economy stagnated but did not contract. Still, the picture masks the wide divisions in the health of Europe's economy, and the same goes for joblessness.

While unemployment fell in Austria to just 3.9 percent in April, it rose to 24.3 percent in Spain, the highest in the eurozone. New data for stricken Greece was not immediately available, having reached 21.7 percent in February.

The number of people out of work also crept up in both France and Italy to 10.2 percent in April, the eurozone's second and third largest economies respectively.

Joblessness in Germany fell to 5.4 percent of the working population from 5.5 percent in March, although economists say given the weakening business sentiment, even Europe's largest economy cannot expect unemployment to fall much further.

"More uncertainty (from the debt crisis) would surely be poison for the economy and for the companies' willingness to hire staff, Commerzbank analyst Eckart Tuchtfeld wrote in a note to clients. [Reuters]

ekathimerini.com , Friday June 1, 2012 (12:44)  
Eurobank share offering on April 25-29
PPC to issue corporate bond of 500 mln
Primary surplus continued by end-March
Eurobank eyes top Core Tier 1 level in Greece
Greek Christians mark rare Good Friday in north Cyprus
Hundreds of Greek Orthodox pilgrims, some coming home after 40 years of forced exile, commemorated the crucifixion of Jesus in a rare Good Friday service in northern Cyprus. Held in this med...
Greece offers to help find Turkish F-16 lost in 1996
Greece officially offered on Thursday to assist Turkey in its efforts to locate and salvage a Turkish Air Force fighter jet which crashed in the Aegean almost 20 years ago. Greek Defense Min...
Inside News
BASKETBALL
Greens lose badly as CSKA Moscow
Panathinaikos has a mountain to climb in order to reach the Final Four of the Euroleague after losing at CSKA Moscow on Friday for a second time in two days, only this time it was comprehens...
BASKETBALL
Former Red Bourousis wrecks Olympiakoss hopes for a break
Olympiakos tried harder in Game 2 of the Euroleague play-offs in Spain, and Real Madrid was not as good on Thursday as in Game 1, but the Spaniards still emerged victorious on the night with...
Inside Sports
COMMENTARY
The placebo effect and the economy
Among the greatest mistakes made in the years of Greeces hard landing is that citizens did not get the chance to sense that aside from austerity and pain the economic adjustment program als...
COMMENTARY
Ukraine is a crisisbut not a Cold War
Given Russias annexation of Crimea, the imposition of US and European sanctions, and the potential for more escalation in Ukraine, we are witnessing the most important geopolitical events s...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Greek Christians mark rare Good Friday in north Cyprus
2. Eurobank share offering on April 25-29
3. Greens lose badly as CSKA Moscow
4. Former Red Bourousis wrecks Olympiakoss hopes for a break
5. PPC to issue corporate bond of 500 mln
6. Greece offers to help find Turkish F-16 lost in 1996
more news
Today
This Week
Today
This Week
1. Greece's market return mirrors return of tourists
2. Parties start announcing candidates for European Parliament elections
3. Greece startup leaders say they cant break jobless cycle alone
4. Ground-breaking Good Friday mass signals thaw in Cyprus
5. IMF's Thomsen says Greece not fully financed to 2016
6. Mayoral candidates clash over Athens mosque plans
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.