Eurozone unemployment (By Sylodium, international trade directory)

European Commissioner for Employment, Social Affairs and Inclusion called on the EU to step up its jobs efforts, in the wake of the latest jobless numbers. GDP growth turned positive in the 2nd quarter and latest unemployment figures confirm that joblessness has stopped rising in many countries, even in Spain, Portugal and Ireland. After six quarters of recession and ten quarters of rising unemployment, this levelling off in unemployment is relatively good news.

Many countries have managed to slightly reduce seasonally-adjusted unemployment without a time lag after economic growth picked up or even while still in recession. The slight decline in unemployment in these countries shows the importance of active employment policy measures like hiring subsidies, reduced taxes on low-paid labour, re-skilling and good-quality job placement services.

 

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