Jul 31

Italy

Italy Youth Unemployment Hits Record High 44.2%, Concerns Rising “Recession Exit May Be Unsustainable” (ZeroHedge, July 31, 2015):

While the overall unemployment rate for the Eurozone also unchanged at 11.1%, it was renewed concern about what is going on in Italy, where unemployment rose from 12.5% to 12.7%, while Italy’s youth unemployment rate, which surprisingly jumped by nearly 2% to 44.2%, a record level.  As Bloomberg put it, “Italy’s jobless rate unexpectedly rose in June as businesses continue to dismiss workers amid concerns that the country’s exit from recession may not be sustainable.”

 

 

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One Response to “Italy Youth Unemployment Hits Record High 44.2%, Concerns Rising “Recession Exit May Be Unsustainable””

  1. Marilyn Gjerdrum Says:

    The Euro unemployment rate of 11% is as false as the US one of 5.2%. Italy has an unemployment rate of 44%. Spain has a rate of 22.3%, with a youth unemployment at 49.7% according to global statistics. Greece has an unemployment rate of over 60% and climbing thanks to the German takeover, Portugal has 17.5%, France claims 10.2%, but their youth unemployment, 23.7%, Germany, 6.3%, Belgium 8.6%, 20.3% youth unemployment……..

    If this averages 11%, I’ll eat my hat. Italy and Spain were the two countries with Germany underwriting 98% of Greece’s debt. How do you think this will pan out for them?

    Even worse, the US claims an unemployment rate of 5.3%. We have 325 million people in the US according to the census website which updates every few days. Out of that number, slightly over 200 million are working age. Of that 200 million, 93.6 million are suffering from long term unemployment…….close to 50% of the working age Americans. How does that figure at 5.2%?

    Our unemployment rate is close to that of Italy or Spain……Like the US, their nations have debt to GDP in excess of 100%, meaning every cent that comes in is owed elsewhere………there is no room for improvement or growth…….Debt service consumes every nation in the Euro as well as the US, and once debt is higher than income, the struggles begin…….

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