Unemployment is rising in Europe's two largest economies, with a shock jump in Germany and a new record high in France, according to the latest figures.
The number of unemployed people in Germany rose unexpectedly by 24,000 to 2.905 million in May. It was the biggest monthly increase since April 2009, and a long way off economist's expectations of a 15,000 decrease. Economists said the drop could partly be explained by the weather, with a loss of fewer seasonal jobs during a milder than usual winter.Despite the rise in unemployment numbers, the jobless rate was unchanged in May at 6.7%, and Schulz said Germany's labour market "remains on a strong positive trend despite the slight May setback".
Nevertheless i know a whole bunch of academics out of work after graduating. Some for years. And from all fields...economics, law, natural sciences, social sciences. Most of those people graduated with above average marks....
Others i know, even with phDs, are working on short term contracts, low paid and always in fear of not getting the follow-up contract. Meanwhile couples with children, even with both working (academics) cannot afford to build a house for their families, even if their parents did that with only one working and the other stay-at-home. German Jobwunder? Rather for the capital-side...If Juncker gets appointed that number will sky rocket, his plan for the United States of Europe, starve them into submission. The EU learnt nothing form the recent vote they are already holding out the begging bowl for another 3.5 billion to plug a hole in their finances.
4 comments:
The ECB can knock itself out trying to sell monetary policy as a panacea all it wants. The reality is that monetary policy is and has been almost totally ineffective across the globe in stimulating growth in aggregate demand.
Only the mindless monetarists such as the ECB and the German elites are still worshipping false gods.
The EMU member states are woefully below economic capacity as all have suffered a dramatic decline in aggregate demand. Still, now going on 7 years of demonstrably failed economic policies, such as austerity, which directly caused massive unemployment, attacks on the welfare state, massive increases in poverty and social unrest, the elite still think the ECB has a cure?
The press should at the very least recognize what a large swath of European voters have, and that is that the Troika and other elites have been pedalling baseless dogma.
The baseless dogma of austerity and eschewing of fiscal policy choices continues to destroy democracy and Europe.
The ECB has nothing to offer other than more ineffective monetary policy when what is desperately needed is expansionary fiscal policy.
The ECB can knock itself out trying to sell monetary policy as a panacea all it wants. The reality is that monetary policy is and has been almost totally ineffective across the globe in stimulating growth in aggregate demand.
Only the mindless monetarists such as the ECB and the German elites are still worshipping false gods.
The EMU member states are woefully below economic capacity as all have suffered a dramatic decline in aggregate demand. Still, now going on 7 years of demonstrably failed economic policies, such as austerity, which directly caused massive unemployment, attacks on the welfare state, massive increases in poverty and social unrest, the elite still think the ECB has a cure?
The press should at the very least recognize what a large swath of European voters have, and that is that the Troika and other elites have been pedalling baseless dogma.
The baseless dogma of austerity and eschewing of fiscal policy choices continues to destroy democracy and Europe.
The ECB has nothing to offer other than more ineffective monetary policy when what is desperately needed is expansionary fiscal policy.
The ECB can knock itself out trying to sell monetary policy as a panacea all it wants. The reality is that monetary policy is and has been almost totally ineffective across the globe in stimulating growth in aggregate demand.
Only the mindless monetarists such as the ECB and the German elites are still worshipping false gods.
The EMU member states are woefully below economic capacity as all have suffered a dramatic decline in aggregate demand. Still, now going on 7 years of demonstrably failed economic policies, such as austerity, which directly caused massive unemployment, attacks on the welfare state, massive increases in poverty and social unrest, the elite still think the ECB has a cure?
The press should at the very least recognize what a large swath of European voters have, and that is that the Troika and other elites have been pedalling baseless dogma.
The baseless dogma of austerity and eschewing of fiscal policy choices continues to destroy democracy and Europe.
The ECB has nothing to offer other than more ineffective monetary policy when what is desperately needed is expansionary fiscal policy.
The ECB can knock itself out trying to sell monetary policy as a panacea all it wants. The reality is that monetary policy is and has been almost totally ineffective across the globe in stimulating growth in aggregate demand.
Only the mindless monetarists such as the ECB and the German elites are still worshipping false gods.
The EMU member states are woefully below economic capacity as all have suffered a dramatic decline in aggregate demand. Still, now going on 7 years of demonstrably failed economic policies, such as austerity, which directly caused massive unemployment, attacks on the welfare state, massive increases in poverty and social unrest, the elite still think the ECB has a cure?
The press should at the very least recognize what a large swath of European voters have, and that is that the Troika and other elites have been pedalling baseless dogma.
The baseless dogma of austerity and eschewing of fiscal policy choices continues to destroy democracy and Europe.
The ECB has nothing to offer other than more ineffective monetary policy when what is desperately needed is expansionary fiscal policy.
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