A huge 12.2% "official" unemployment rate in Europe
While 23% is the real unemployment in the U.S.
Pressure is mounting on the European Central Bank to boost activity in the euro area after the latest figures showed a fresh rise in unemployment, and inflation dropping sharply to a four-year low.
The jobless total for the 17 nations that use the single currency rose by 60,000 in September to 19.4 million – the 29th consecutive monthly increase. Unemployment is a million higher than in September 2012 and up by almost four million since the spring of 2011.
At 12.2%, the jobless rate was the highest since monetary union began at the end of the 1990s, according to data from Eurostat, the EU's statistical agency reports the UK Guardian.
Analysts said the labour market in the euro area had yet to stabilise despite the return of modest growth in recent months.
Jobless rates range from 4.9% in Austria and 5.2% in Germany to 26.6% in Spain and 27.6% in Greece, with unemployment in Italy rising to a record high of 12.5% in September. The jobless total in France also rose, up by 34,000 in September and by almost 250,000 in the past year.
Unemployment among the under-25s rose by 22,000 in September to 3,548,000 – nudging up youth jobless rate to 24.1%. In France, the youth jobless rate jumped from 25.6% to 26.1%, while in Italy it increased from 40.2% to 40.4%.
23% Unemployment in the USA
Alternate Unemployment Charts
The U.S. seasonally-adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.
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The U-3 unemployment rate is the monthly headline number. The U-6 unemployment rate is the Bureau of Labor Statistics’ (BLS) broadest unemployment measure, including short-term discouraged and other marginally-attached workers as well as those forced to work part-time because they cannot find full-time employment.
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See more at Shadowstats.com
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