This page has been archived and commenting is disabled.
Europe Winning Global Unemployment Race
If the scramble to hit 100% unemployment was a race, then Europe is about to leap the rest of the world.
April euro area unemployment rate rose to 12.2%, a fresh all time high. That means 19.375 million people were jobless, up from 15.5 million in April two years ago. At the country level, Germany and Austria remain among the countries with the lowest unemployment rates, close to 5%, while the situation is the worst in Greece and Spain (27% and 26.8%, respectively). As SocGen admits, the gradual increase appears to continue in all the worst-hit countries, including Italy, Cyprus and Portugal, with Ireland being the only exception with a decline in unemployment to 13.5%. Italian unemployment hit 12%, up from 11.5% and far worse than expected. This was the worst unemployment in 36 years.
Perhaps it is time the BLS did its European colleagues a favor and sent them some of the Arima X 12 goalseeking excel models which allow unemployment goalseeking by fudging the labor participation rate.
But why keep talking when charts will suffice:
And Europe, basking in its own glory:
By country:
»
- 9598 reads
- Printer-friendly version
- Send to friend
- advertisements -
At least they're winning something!
They still have the best death panels as well.
And the best world class restaurants, only very few can afford to eat there.
maybe they are just "more honest" with their numbers.......
Yea, the U.S. number is total bullshit, I suspect the real number is near where Europe's real number is.... which is likely above what has been reported.
All the data is manipulated. What a pointless article.
Saying that French unemployment went up 40k in a month, how bad must be the real number be? Riots next over there, the French like a good riot especially the farmers, they burn sheep and everything.
Yep. Every french people I talk to wants to get the fuck out of there... and the french people I know here... never want to go back... and economic reality still hasn't hit full force yet.
100%? How about 150%?
but, i thought printing the debt away was going to solve everything. no?
Anyone hiring? I have a degree...
Depends....do you know how to do anything?
I know how to throw out one liners in forums and and honorable vet with B.S..
I'm shocked SocGen published something where they didn't sneak in a shot of how bad gold is.
How can this be, Europa is Utopia
Sit back, relax and enjoy Europa...no issues, no problems, all is well...
http://www.youtube.com/watch?v=uRrh3UyT1-s
Anyone who believes these numbers is a fool. Europe is simply losing the propaganda race.
I remain long black markets and sharecropping...
Somebody was trying to push those yields down overnight;
http://www.marketwatch.com/investing/bond/10_year
The only thing that matters is sovereign debt expansion, less governments and the whole ponzi explodes.
The BLS needs to send them the "new math" approach to crunching these numbers. Apples to apples then.
More regulation and more EU bureaucrats will certainly solve this problem. /sarcasm
And tax harmonization, comrade!
This is all the fault of the Swiss, the Lichtensteiners and the Luxembourgeois.
Once their harmful tax competition is stopped, good times will return! /sarc
I like how the graphs show having a single European currency is benefiting all of us, now we have more unemployment, lower economic growth, higher taxes, and we're closer to armed conflict on the continent than ever before after WW2. Clearly we need more of this...
It wouldn't be so bad if France and Germany did not rig the regulations to benefit themselves at the expense of everyone else. I feel for you though. Hopefully, whatever country you reside in secedes from the EU. Germany's unemployment rate is really the result of its export economies being broke.
Well, myself I can't complain, I'm from the Netherlands, which in the grand scheme of things is basically like a province of Germany. What's good for them, is good for us, at least temporarily...
No need for the "/sarcasm" suffix.
If EVERYONE is a bureaucrat and their salary is based on print-as-needed-currency then - indeed - this IS the answer to full employment.
Long statistical software!
Try this chart: http://www.shadowstats.com/alternate_data/unemployment-charts
Yeah, buddy! Now THERE is some nipple-twisting-truthiness for a Friday morning! The last thing .gov wants to do is stare THAT reality in the face.
My neighbors in Limassol are doing their part to help keep the numbers up as I never see them go to work anymore.
How long will it take for "stimulus checks" to be issued. Large ones would help the inflation "problem"
Stimulus checks will only be issued if they perceive there is a problem. As long as everyone remains calm and no one rebels, what need is there for stimulus checks?
85 billion a month distributed to populace would do it.
Winning
Good point. But do you really think they will go for carrots not sticks if people revolt?
They will have to use NATO troops to put down a rebellion. No offense, but have you seen the Europeans fight modern wars? It's why the US is drawn into every conflict.
#1 Their militaries probably aren't up to putting down a rebellion
and
#2 They may not want to spend the money to put down a rebellion. /sarcasm.
Long hot summer of car torching coming
Paul Krugman's Cash for Clunkers II
I blame no one but the populations of Europe for this. A little bit of research and one can see quite quickly the problem is not the Germans or corrupt local politicians ... its the €.
eastern europe has no problem with unemployment - minimum wage at 300 euros per month allows for flexible labour market
The obvious answer is more Europe, as Mr Barroso has pointed out. What this entails, and the reason it will solve everything is so blindingly obvious it doesn't need elaboration or actual details.
These deceptive statistics also fail to include former higher income earners now working at lower wage jobs.
It's really not important. The crucial thing is for the financial elite to have their pockets stuffed with freshly printed counterfeit paper.
The hubris of governments leads to downfall when they start to believe they can control everything: economies, people, behavior, statistics, and eventually the laws of nature.
Isn't this just a statistical fudging competition?
http://nipponmarketblog.wordpress.com/
Whoever comes up with the shittiest numbers gets the NWO to force you give them a reach around