Talking about "headwinds to economic growth" in Europe, from the WaPo: Euro unemployment hits 10.7 percent in January, new high since euro established in 1999
Mass unemployment in Greece and Spain, where nearly half of those under 25 are out of work, sent the jobless rate across the 17-nation eurozone on Thursday to its highest level since the euro was established in 1999. Eurozone unemployment rose to 10.7 percent from an upwardly revised 10.6 percent the previous month, according to Eurostat
Thursday, March 8, 2012
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How reliable are the statistics? Is unemployment that high, or is it reported that high because much of the income/industry/employment is not reported? I am thinking of Greece in particular where doing anything requires a tone of paperwork.
ReplyDeletePoint taken, to the extent that other countries - Bolivia, North Korea, Algeria, etc struggle to accurately estimate there are precision problems. That said, the unemployment in Western Europe is probably comparable with the estimates in the US, Japan and other industrialized economies.
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