Europe's Scariest Chart In More Detail

Tyler Durden's picture

While the surging unemployment rates across Europe are the most troublesome for politicians (and the extreme youth unemployment even more so), if we take a closer and more 'local' view of the stress, it is interestingly more regional than national. While Spain and Greece stand out, the unemployment rate, as analyzed in the chart below by Flute Thoughts blog, does not follow national borders. Northern Italy, for example, seems to have more in common with the German-speaking regions of Europe than with Southern Italy; France appears more peripheral than core; and the former eastern Germany still has not caught up with the west (so much for fiscal integration). Eastern Europe also has some striking differences as we suspect the ovals are slowly collapsing in on themselves as the reality of lower revenues from more unemployed procyclically pulls the euro-zone into depression.



Via Flute Thoughts: The European Unemployment Map

Yesterday I compared Italy and Spain, and noted that when it comes to unemployment the worst regions in Italy have roughly the same unemployment rate as the best regions in Spain. This led me on to making this map (using data from Eurostat) to show unemployment rates for all EU and EES regions


The map gives some hints about where there might be problems - the unemployed who have debts have more difficulties keeping up with their loan payments - the unemployed don't pay very much in taxes and thus don't contribute to the government coffers - the unemployed are rather more prone to engage in activities such as social unrest.


The biggest problem is obviously in Spain, which stands out like a sore thumb! Greece has nearly the same level of unemployment, but Spain is much larger. Add to this the fact that the Spaniards are up to their ears in debt after the popping of their monumental real estate bubble...


It's also interesting to see how unemployment often does not follow national borders. Northern Italy, for example, seems to have more in common with the German-speaking area of Europe than with southern Italy. Sometimes, however, the national borders make a big difference, e.g. between Spain and Portugal.


Also note that France look a lot more like the central part of Italy than it looks like Germany when it comes to unemployment. Bienvenue au club PIIGSF, monsieur Hollande!


The difference in Germany between former East Germany and West Germany is still clearly visible, as the east still hasn't caught up with the west.


Another striking difference is that between Czechia and Slovakia, where Czechia looks like Germany, but Slovakia (except the Brno region) has a high unemployment rate that increases towards the east.

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Anne Ominous's picture

It's a Map!


... sorry - that should have read "It's a Trap!"

IndicaTive's picture

If there's a place you got to go
I'm the one you need to know
I'm the map
I'm the map
I'm the map
If there's a place you got to get
I can get you there I bet
I'm the map
I'm the map
I'm the map
I'm the map
I'm the map
I'm the map
I'm the map
I'm the map
I'm the map
I'm the map
I'm the map
I'm the map



Stackers's picture

Spain needs to hire some accountants from the U.S. Bureau of Labor and Statistics - QUICK !!!

malikai's picture

It's cool. I'm sure the next Robespierre will be a swell guy. And the next Napolean as well.

withnmeans's picture

Not to mention now the Spanish health care is taking a hit "as it should, still not a bad plan". However it is an ingenious way to find out who the illegals are "then send them packing like Greece".

Also to add to the pain in Spain, they are now starting to censor their news "sound familiar".

Keep your chin up, prepare for a left hook or a right cross...

AldousHuxley's picture

how about US ste umployment by EU standards?

illyia's picture

How about a Shadow economy that circumvents the system itself... it is only natural...

OpenThePodBayDoorHAL's picture

We already have a "Committee For Public Safety"...oh wait, it's called Department of Homeland Security

Dr. Engali's picture

After three children I hate that song and now thanks to you it's stuck in my head. And don't use the old...."you didn't have to read it" routine. All I did is glance and BOOM there it was.

I gave you an up arrow anyway because my kids love it :->

IndicaTive's picture

Thought I would share the contagion Doc. It popped into my head immediately too.

Dr. Engali's picture

Thanks. I appreciate it. Hopefully some day I can return the favor. ;->

JPM Hater001's picture

"All I did is glance and BOOM there it was."

Dont you mean

Boom Boom aint it great to be crazy

Boom Boom aint it great to be crazy

Stuck on Zero's picture

Am I wrong?  Aren't these unemployment statistics a helluva lot better than the (correct) labor statistics for the United States?


cynicalskeptic's picture

shhhhhhhh.....    for MOPE to work it requires that nobody question the oifficial statistics.....    You CAN bring Tinkerbelle back to life if you believe!


of course if you're won of the 20%+ who's unemployed, it's damn hard to belive in anything.

The Watchman's picture

Ground zero in the center

Daily Bail's picture

FINANCIAL FRAUD CONVICTION SCORECARD: Bush 1300+, Clinton 1000+, Obama 0.0

Obama and Eric Holder still at after 3 1/2 fucking years on the job.

old naughty's picture

Doesn't that mean they're safe with TPTB?

magpie's picture

Everything should degrade at the same pace from now on, ne c'est pas.

iDealMeat's picture

ZH, needs to just shut down for 2 weeks..  Give us a break for a while.


Same shit will be right there waiting for us..


tekhneek's picture

If that's A, here's B:

Don't come to ZH for 2 weeks. Come back in awhile. Same shit will be right here waiting for you.


Savyindallas's picture

yeah -let's not poop out on the world's biggest Ponzi scheme -Europe's Ponzi will blow up first, then the money will keep flowing to us for a while. It may take weeks, months or even years before it all blows to hell. So let's eat, drink and be merry. The party could last for a while. We'll deal with all this negativity after the collapse.

bpj's picture

No shit, fucking sky has been falling for years according to  ZH. 

LeisureSmith's picture

No, shit has been falling from the fucking sky for years. I blame Shithawks.

Tijuana Donkey Show's picture

You get a vote for the Layhey reference. I feel the GOVT is more Ricky and Julian than anything else. Bubbles is the Federal Reserve, cat food for everyone!

cynicalskeptic's picture

That's not shit - it's helicopter Ben's manna from heaven........


Hell, it took a decade for the housing mess to blow up - I was astounded at how long they managed to kick that can down the road... but it DID eventually fall apart.  Smoke and mirroprs - and government manipulation - can only work for so long.   Europe is the distraction - a short term play to drive people to the $US and keep THAT illusion going for a little longer.....  but eventually we're gonna hit the ground and go 'SPLAT!' too......    don't take too much comfort just because someone else fell out of the plane before you did 

poor fella's picture

Do you choose to believe the MSM and be caught offguard?  Not saying you need a fucking bunker in the mountains, but every decision should be rooted in reality.

According to boomberg and cnbs; If only I would charge new wood floors, his'n'hers diesel Beemers, two weeks in the Bahamas, and get my ass 'off the sidelines' - ALL WOULD BE WELL!

Fuck that, the sky is falling if one chooses to look...

Meremortal's picture

The articles are fine, it's the comments that are repetitive. Some have to keep repeating since what they have claimed is happening NOW for the last 4 years hasn't happened. Broken clock territory is being approached. No worries, they will take full credit for their predictions if they are still around when they become true. 

In their defense, govts can delay economic eventualities much longer than one would believe possible. (See Greece and California). I starting to believe they can kick this can for years yet. In America anyway. Europe's ability to stall is impressive and a good model to watch unfold.


Dr. Engali's picture

I have been amazed at how long TPTB have been able to hold it together. It's a true testament to the power of propoganda and the ability to keep the sheep stupid. Having said that I wouldn't miss the commentaryon the Hedge. There is a lot of good infromation to be gleaned from some,and good entertainment from others.

msjimmied's picture

I agree, the comments always educates or cracks me up. Other sites wish they had an infestation of the kind of vermin we have. 

NuckingFuts's picture

Infestation of bitches.

Here's to us, the verminous bitches of the inter webs

lasvegaspersona's picture

when we run out of time and 'what's going to happen' happens....we will all be glad everyone was way early in their predictions. The future will have some really rough spots and probably fatal for I am patient and wake every day, check the Drudge and the ZH and a few markets....if all is +/- 2 standard deviations I'm happy, I have another day of boring, manipulated markets normalcy....and I say...thnak you Ben..... and Mario. I know things are way fucked up and I know banks is bad but still....B and M do keep it stable...for now...and the sad thing is I think they know and I don't think every thing will be roses for them....they may be evil bankers but they have extended family, who like most of us, will have folks  turn to them for help....hang on....

e-recep's picture

according to the kondratieff waves we have around 8 more years before things settle back to normal. in-between anything can happen, anything.

Meremortal's picture

Sure, right after you quit your job for two weeks, all that meat you sell is killing people!

(Channeling eco-vegans)


CrawdadMan's picture

looks like acute diarrhea.

bugs_'s picture

lots of scary charts from Spain

are we overusing the term "scary chart"? LOL

Bonesetter Brown's picture

Were you scared by those charts, kids?  I know I was -- ow oooooh!

Zero Debt's picture

Once you no longer get scared by scary charts, you may be eligible for an economics PhD

DoChenRollingBearing's picture

Jim Clifton (CEO of Gallup, the polling company) recently wrote a book saying that A GOOD JOB is the single biggest issue in every country they are studying (over 100 countries).  Every country.

The above map shows in what order European countries will go bankrupt.

But, German exports are now down (see Wolf's recent articles re the dangers facing Germany).

nmewn's picture

German exports down? what we're saying here is a law banning circumcis...oh never

irishlink's picture

After reading all the comments here, I have noticed that quite a few more than usual are ready to believe that the can be kicked for a couple of years yet. Is this a contranian indicator and can we use the comments as a new model for apocalypse discovery? Tylers you must be working on a formula for this? 

LeisureSmith's picture

This is a shitstorm deposition-map, the closer you get to brown, the more shit you are in.

Meremortal's picture

Oh, and the north/south Italy split has been in place for centuries. And yes, France feels like a different country once you get out of the lefty cesspool Paris.

Bringin It's picture

In most northern Italy, ie. Bolzen/Bolzano, the people speak German and were Austrians until maps changed in 1918.

Irelevant's picture

Brno is in the Czech Republic not in Slovakia, so SK is virtually fucked. Ohhh...l but how could this be, Slovakia was an example, they adopted the Euro, while CZ still has the Krone.

jepicza's picture

That's right, the Czech republic is Bohemia and Moravia, Böhmen und Möhren, and Moravia is more fucked than Bohemia, because it is closer to Slovakia, and Slovakia is closer to Ukraine and Russia. That's how it works for centuries. ;-) So, looking back, and forward, one would do well if he would live in: Nothern Italy, Switzerland, Bavaria, Western and Southern Bohemia, Sothern Moravia and Austria, without Euro and with plenty of great beer. LOL

Karl von Bahnhof's picture

Czecho-moravo-slovakian team here at work? greetings bitchez!

Hobbleknee's picture

Add at least 10% to get a more realistic unemployment stats.