The world of today is facing economic times that are among the toughest in living memory. In such an uncertain financial state, we see businesses resorting to downsizing their staff across many sectors, which has led to serious issues pertaining to unemployment. This obviously holds true for Europe as much as for anywhere in the world. A study was recently conducted by Eurostat in regards to how prevalent unemployment is in Europe at the present. The annual study indicated that, when comparing results between the years 2014 and 2015, unemployment rates have declined in the majority of European Union (EU) member states over this time, while rising in five such states. It is, however, important to note that the numbers from this study may change as new monthly data is acquired by Eurostat.
Highest Unemployment In Europe, 2015
According to the same research conducted by Eurostat in May of 2015, unemployment rates have generally decline across most of the region under the European Union’s jurisdiction. From the statistics acquired by this study, unemployment is at its lowest in Germany, at a mere 4.7%, and in the United Kingdom, at 5.4%. The highest unemployment rates were found in Greece, at a discouraging 25.6%, closely followed by Spain at 22.5%.
Compared to the data acquired back in May 2014, unemployment rates fell in twenty-two member states of the EU. For instance, the largest decreases were noticed in Lithuania (11.0% to 8.2%), Spain (24.7% to 22.5%) and Ireland (11.7% to 9.8%). On the other hand, unemployment rates increased in five EU states, including Belgium (8.4% to 8.6%), France (10.1% to 10.3%), Romania (6.8% to 7.1%), Austria (5.6% to 6.0%) and Finland (8.6% to 9.4%). Furthermore, unemployment rates remained unchanged between the two years in Cyprus, with both 2014 and 2015 seeing unemployment rates of 16.0% in that country.
Hope For the Future
Regardless of the trend for lowered rates over the past year, unemployment is still rampant in many EU states, with the rates being at their highest in Greece and their fellow Mediterranean superpower Spain. Some of the unemployment rates that were registered in this research study are rather shocking, as we look at the rates of countries such as Spain, Cyprus, Italy, and Croatia towards the top of the list. From this list, it is interesting to note particularly high rates of unemployment in South Europe, which may prove to be an area in need of increased economic attention as compared to other areas of the continent. Nonetheless, as the unemployment rates have declined in twenty-two EU member states, there is hope that this problem will likewise be curbed in those countries continuing to struggle in the years to come.
Europe Unemployment Rates
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|2||United Kingdom||5.40 %|
|5||Czech Republic||5.90 %|
|9||The Netherlands||6.90 %|