The above chart is of the unemployment rate in Europe, as well as some individual European countries. The data tells as that broadly speaking, labour conditions and living standards are still on the down slope, although there is a glimmer of hope in Finland, one of the countries hit hardest in the Global Financial Crisis (GFC). The same cannot be said for other nations, especially Greece and Spain.
With Greece sitting at just under 22 per cent unemployment and Spain right on 24 per cent, both rates appear to be growing at a considerable pace. Alarming as this graph is, it does not show the youth unemployment rate, which in Spain is a mind-boggling 50 per cent!
At this time it should be noted that although Real Economics is an unbiased and impartial report, it is hard to remain positive when trying to foresee the future of the European economy, not to mention the Global economy. xoxo Real Economics.
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