综合一区欧美国产,99国产麻豆免费精品,九九精品黄色录像,亚洲激情青青草,久久亚洲熟妇熟,中文字幕av在线播放,国产一区二区卡,九九久久国产精品,久久精品视频免费

USEUROPEAFRICAASIA 中文雙語Fran?ais
World
Home / World / Europe

Record unemployment underlines EU's pain

Agencies | Updated: 2013-05-31 20:16

Record unemployment underlines EU's pain

Job seekers line up to submit their resumes during an employment fair in La Roca Village, near Barcelona, in this May 21, 2013 file photo. [Photo/Agencies]

BRUSSELS - Unemployment has reached a new high in the euro zone and inflation remains well below the European Central Bank's target, underscoring just how severe a challenge EU leaders face to revive the bloc's sickly economy.

Joblessness in the 17-nation currency area rose to 12.2 percent in April, statistics agency Eurostat said on Friday, marking a new record since the data series began in 1995.

With the euro zone also in its longest recession since its creation in 1999, consumer price inflation was far below the ECB's target of just below 2 percent, coming in at 1.4 percent in May, slightly above April's 1.2 percent rate.

That rise may quieten concerns about deflation, but the deepening unemployment crisis is a threat to the social fabric of the euro zone, with almost two-thirds of young Greeks unable to find work exemplifying southern Europe's threat of creating a 'lost generation'.

Economists and policy makers have expressed concern that the greatest threat to the unity of the euro zone is now social breakdown from the crisis, rather than market-driven factors.

In France, Europe's second largest economy, the number of jobless rose to a record in April, while in Italy, the unemployment rate hit its highest level in at least 36 years, with 40 percent of young people out of work.

Some economists expect the ECB, which meets on June 6, to act to revive the economy and go beyond another interest rate cut to consider a U.S.-style money printing program known as quantitative easing.

"We do not expect a strong recovery in the euro zone," said Nick Matthews, a senior economist at Nomura International in London. "It puts pressure on the ECB to deliver even more conventional and non conventional measures."

In the past, the euro zone has needed economic growth of around 1.5 percent to create new jobs, according to Carsten Brzeski, an economist at ING. With the Organisation for Economic Cooperation and Development forecasting this week that the euro zone economy would contract by 0.6 percent this year, unemployment is set to worsen long before it turns around.

"We do not see a stabilization in unemployment before the middle of next year," said Frederik Ducrozet, an economist at Economist at Credit Agricole in Paris. "The picture in France is still deteriorating."

Previous 1 2 Next

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
正定县| 阳朔县| 桦南县| 玛沁县| 乌苏市| 石阡县| 沙坪坝区| 鹤岗市| 南和县| 旌德县| 琼结县| 鹿泉市| 阳曲县| 三门峡市| 石阡县| 湖南省| 长沙市| 清镇市| 广安市| 漯河市| 安泽县| 福清市| 连州市| 栾城县| 隆回县| 迭部县| 上高县| 安图县| 监利县| 黔南| 无锡市| 金湖县| 莱州市| 班玛县| 峨边| 合川市| 绥中县| 白银市| 松江区| 德钦县| 东平县|