Euro zone unemployment over 10 percent for the first time in its history by Milota Sidorova

European people are affected by great unemployment. The unemployment was one of the slowest recovering indicator after the crisis. Many of the business were closed down or swallowed by international corporation. The competition suddenly disappeared on regional level. A lot of the countries lost diverse industry production and were left vulnerable to moods and risks of financial markets. As for the markets, most of their financial divisions, life is back in green numbers.But not for people – the worst conditions seem to be within the euro zone. In February the number of unemployed increased another 60,000. The problems were accelerated with Greek debts and emergency si! tuation in the country. The same problems were noted in Spain that has one of the highest unemployment in EU – 19 percent. However, the situation may not be so crucial, because of existence of huge black market and black power. The highest unemployment is in Latvia with more than one fifth of people getting unemployed. The rate reached 21.7 percent in February. The lowest unemployment is in Nederlands with 4.0 and 5.0 percent in Austria. The average unemployment within EU rose from 9.4 to 9.5 in February. Generally it seems the most affected states are those using the common currency. Euro zone unemployment exceed 10 percent last months and it was the first time double digit in its history. Euro got the lowest point in its history against Swiss franc and 10 months low against dollar past week. As for intercontinental quotes – the U.S. decreased the number from over 10 to 9.4 percent and Japan was doing good with 4.9 percent.

related story (sgx1690! 3): http://www.france24.com/en/20100331-eurozone-unemployment-em...

by Milota Sidorova for Cantell TV (http://cantell.tv)

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