Europe's scariest chart continues to stun and amaze by its scale even as Europe's broad unemployment rate has been stagnant at around 12% for 5 months. While Greece and Spain have seen youth unemployment rates drop slightly from record highs (and its clear the disillusionment has meant people leaving the potential workforce) they remain well above 50%. Italy hovers near its all-time record high around 43% (with overall Italian and French joblessness at record highs) and broad European youth unemployment is stuck at over 23% (as Germany's drops to new record lows). As we noted yesterday [5], if this is the age of civil unrest then the blue-touch-paper to light is writ large in this chart...
Broad European unemployment has been stuck around 12% for 5 months... with Greece and Spain at the top
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But it is the youth unemployment rates (15-24) that is truly depressing...
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Source: Eurostat [8]