In Europe, the unemployment rate has increased to one of the highest in more than 11 years during the crisis. Companies cut costs in the wake of the worst recession in more than six decades.
In the euro area, unemployment rose to 10 percent. That is the highest rate since August 1998.
I think, unemployment is one of the most horrible things in a country. Participation in the labourmarket is very important for the economy of a country. In Europe, there is a high unemployment (9.9 % in 2010). Let’s try to see the countries with the highest and also the lowest unemployment rate by country in the European Union.
The lowest unemployment rates were recorded in the Netherlands with 4,3%, Luxembourg with 4,5% and Austria with 4,8%. The highest unemployment rates were found in Spain with 20,5%, Lithuania with 17,4% (in the fourth quarter of 2010) and Latvia with 17,3% (also in the fourth quarter).
There are thirteen Member States in the European Union where the unemployment rate fell, it was stable in two countries and it increased in twelve countries compared with a year ago. The largest falls were observed in Latvia with 20,1% in 2009 and 17,3% in 2010 (fourth quarters of 2009 and 2010), Estonia from 16,1% to 14,3% between the fourth quarters of 2009 and 2010 and Sweden with 8.8% in 2009 and 7,6% in 2010. The highest increases were registered in Greece with 10,2% (fourth quarter) and 14,1% in 2010, Bulgaria with 9,4% to 11,6% and Ireland with 13,0% to 14,9%. The unemployment rate for males fell from 9,9% to 9,7% in the euro area and from 9,8% to 9,5% in the EU-27. The female unemployment rate increased from 10,1% to 10,2% in the euro area and from 9.4% to 9.6% in the EU-27. The youth unemployment rate (under 25) was 19.4% in the euro area and 20.4% in the EU-27 in February 2011. In February 2010, it was respectively 20.5% and 20.9%. The lowest rates were observed in the Netherlands with 7.4% and Germany with 7.9%, and the highest in Spain with 43.5% and Greece with 36.1% in the fourth quarter of 2010.
In Europe, there are many differences in the Labour market. Spain is the winner in the highest unemployment rate and the Netherlands is the winner in the lowest unemployment rate. This article is a sort of summary. If you are interested in more information, please follow the link of the source.