Eurozone Has 20 million Unemployed

[PabloZed]

I want to compare Eurozone unemployment to the US. The Eurozone (as opposed to the larger European Union of 28 states) has a comparable population and economy to the US, but the two economies could not be more different. The latest jobs report in the US was released on Friday showed the unemployment rate fell to 5.6% translating into 8 million unemployed.

The unemployment rate in the Eurozone is 11% and has been above 10% since 2010. There are 18.4 million unemployed. There are 24 million unemployed in the larger EU28. That means there are 10 million more unemployed in the eurozone that in the US.

The unemployed in the eurozone are not even distributed. The unemployment rates in Greece, Italy, and Spain are over 23%.

There really isn't any partisan point here. The world economy needs Europe, and that means addressing growth and job creation.

 

[Halge]

Not to mention we have plenty of jobs that are more or less tax-financed "dig hole, fill hole"-type jobs. And that our definition of "employed" probably includes more part-time and/or temporary workers. And that we have more people enrolled in college for lack of better things to do.

The unemployed in the eurozone are not even distributed. The unemployment rates in Greece, Italy, and Spain are over 23%.

But then again, who cares about their statistics? Half the people classified as out of work in those countries are probably gainfully employed in the black market.

 

[Erik Freydis]

A lot of those will be immigrants from Africa and the Middle East, yet according to European leaders and the EU they are here to do the job our indigenous people won't do and we need more immigration.

 

[Codger]

according to European leaders and the EU they are here to do the job our indigenous people won't do and we need more immigration.

That's correct. It's perfectly OK to call the working classes of the UK lazy and feckless, as long as they're white. Apparently we're too lazy to do jobs in the service industry. Hence I can barely remember the last time I've been to a restaurant or hotel where any of the staff speak English as their first language. It's amazing how we ever managed to run these places a decade or two ago...

 

[Erik Freydis]

That's correct. It's perfectly OK to call the working classes of the UK lazy and feckless, as long as they're white. Apparently we're too lazy to do jobs in the service industry. Hence I can barely remember the last time I've been to a restaurant or hotel where any of the staff speak English as their first language. It's amazing how we ever managed to run these places a decade or two ago...

Yep, we somehow manged to cope through the last century despite fighting two World wars that wiped out millions of our people, yet according to out leaders if we limited immigration, society would crumble and there would be no-one to work in our hospitals, hotels, service industries etc.

 

[HugeMember]

There are a number of analysts who question the unemployment stats in the US. Many claim the rate is over 20%. For example, those who have given up on looking for employment are not counted.

http://www.shadowstats.com/alternate_data/unemployment-charts

 

[PabloZed]

I can't tell who is an immigrant in this unemployment line.

 

[PabloZed]

There are a number of analysts who question the unemployment stats in the US. Many claim the rate is over 20%. For example, those who have given up on looking for employment are not counted.

http://www.shadowstats.com/alternate_data/unemployment-charts

Unskewed polls anyone?

 

[Metusalemi]

And a large portion of those unemployed are 20-35 years old...

 

[Chute Stomp]

That's correct. It's perfectly OK to call the working classes of the UK lazy and feckless, as long as they're white. Apparently we're too lazy to do jobs in the service industry. Hence I can barely remember the last time I've been to a restaurant or hotel where any of the staff speak English as their first language. It's amazing how we ever managed to run these places a decade or two ago...

I know a large number of immigrants from Eastern Europe and they are the hardest working people I know. Most of them have two jobs. The Romanian gypsies seem to be a problem but most of the others are very hard working. The laziest fucks I know are from my own country and are bitching about immigrants because reforms in the benefits system means they actually have to go out and get a job.

 

[Jack V Savage]

There are a number of analysts who question the unemployment stats in the US. Many claim the rate is over 20%. For example, those who have given up on looking for employment are not counted.

http://www.shadowstats.com/alternate_data/unemployment-charts

Discouraged workers are counted, just not in U3 measures. But they're not a huge factor anyway (there are about 740,000 discouraged workers total, while about 400,000 is normal). Shadowstats is just a scam.

 

[burningspear]

And a large portion of those unemployed are 20-35 years old...

You had to go and bring up Spain..... Ouch!

 

[PabloZed]

The laziest fucks I know are from my own country and are bitching about immigrants because reforms in the benefits system means they actually have to go out and get a job.

I know that some of the Northern European countries have or are considering changing benefits in order to encourage people to work. Apparently, the Norwegian benefits are so good that quite a few educated and physically able people choose not to work.

Otoh, Germany may have gone a little too far with their labor reforms. Core jobs were protected, but other jobs were "McDonalds-ized" by lowering wages and benefits. This has led a Financial Times assistant editor to suggest the way to solve the euro-crisis is for Germany to raise wages.

 

[Da Speeit]

I can't tell who is an immigrant in this unemployment line.

Can you tell in a US unemployment line?

 

[Gervinho]

That's correct. It's perfectly OK to call the working classes of the UK lazy and feckless, as long as they're white. Apparently we're too lazy to do jobs in the service industry. Hence I can barely remember the last time I've been to a restaurant or hotel where any of the staff speak English as their first language. It's amazing how we ever managed to run these places a decade or two ago...

Different generation.....honestly young white brits are too lazy to do minimum job ware house jobs where there is hard graft. I have seen this with my own eyes.

 

[HugeMember]

Shadowstats is just a scam.

Well, if you say so.

 

[Jack V Savage]

Well, if you say so.

It's just a fact. For example, their inflation "calculation" is just CPI plus a constant. And they charge people for that. I guess the victims don't draw a lot of sympathy, though.

 

[HugeMember]

It's just a fact. For example, their inflation "calculation" is just CPI plus a constant. And they charge people for that. I guess the victims don't draw a lot of sympathy, though.

How does he get the constant? Just curious.

 

[Jack V Savage]

How does he get the constant? Just curious.

Here's a piece on it, that cites a quote from Williams:

http://azizonomics.com/2013/06/01/the-trouble-with-shadowstats/

Not really satisfying if you want to understand his angle, but again, it's really just a scam anyway. Apparently, a lot of right-wingers will pay someone to tell them what they want to hear even if it has no basis in reality.

 

[HugeMember]

a lot of right-wingers will pay someone to tell them what they want to hear even if it has no basis in reality.

Unfortunately, that's true.