Greece and Spain continue to top the list no country wants to get Gold and Silver in with both nations continuing to lead Europe’s unemployment rates. Greece’s recorded unemployment rate, according to the latest available data, narrowly pips Spain’s at about 26%, Spain rests a touch over 25%. The next closest countries are in excess of 5% lower. After the graphic below, we delve in to European Youth Unemployment figures.
The Economist, the source of the graphics below, says this about European unemployment “The euro-zone recovery will not be strong enough this year to make much of a dent on unemployment, forecast to fall from 12.0% last year to 11.8% in 2014 though it will drop more in 2015, to 11.4%. That labour-market slack will be one of several factors keeping inflation low though the euro area is expected to dodge outright deflation. Instead inflation will fall from 1.3% in 2013 to 0.8% this year, rising to 1.2% in 2015.”
Greece and Spain, unsurprisingly continue to also lead in Youth Unemployment with both countries having in excess of 50% youth unemployment amongst 15 to 24 year old’s. Encouragingly for Europe Germany’s role as engine-room continues it’s march, with the second lowest unemployment and the lowest youth unemployment, as seen in the charts above and below respectively.
Slow as it may be Europe is turning around, with greenshoots expected to continue growing in every European nation except Cyprus. Finland is expected to grow the slowest, with just 0.2% growth.