Europe's unemployment freefall

Article published on March 22, 2009
Article published on March 22, 2009
Guess what Eurostat, the statistical office of the European commission, says in its latest unemployment figures for the last trimester of 2008 ...

The number of those out of work has increased by 453, 000 in the 27 EU countries, a 0.3% increase on the previous trimester. A freefall for which it appears we haven’t packed a parachute. The European leaders that met in Brussels on 19 and 20 March rejected an increase in public spending to bring the crisis to a halt. It would appear that the same tactic that saw Europe bail out banks and industries will not be used to help the unemployed or the eastern economies that are on the brink of collapse.