Over 5 Million Jobless Youths in EU; Greece, Spain at the Top



A new level of record unemployment was reached in the eurozone in July at 11.3%, the highest since the creation of the 17-member single European currency, while the percentage registered in the 27-member EU is 10.4%. The highest rate was registered among youths under 25 where unemployment touched 22.6 percent in eurozone countries and 22.5 in the 27-member Union.
The data was provided by European statistics bureau Eurostat according to which in July 2012 there were overall 88,000 more unemployed compared to the previous month, for a total increase of 2.051 million compared to July 2011.

The top unemployment rate among the under-25 is in Greece (53.8% in May), followed by Spain (52.9%). The unemployment rate for youths decreased in Portugal, from the 37.6%in June to 36.4% in July, while it grew in Italy (from 33.9% to 35.3% in July) and France (from 23.1% to 23.4%).

Overall in July 2012 there are 5.468 million unemployed under 25 in the EU and 3.388 million in the eurozone.
Among EU countries those with the lowest unemployment rates were Austria (4.5%), the Netherlands (5.3%), Germany and Luxembourg (5.5%). The highest rate was recorded in Spain (25.1%) and Greece (23.1% in May).
The unemployment rate from May 2011 to May this year rose most significantly in Greece (from 16.8% to 23.1%), Spain (from 21.7% to 25.1%) and Cyprus (from 7.7% to 10.9%).
(source: Eurostat, ANSA)