Long term unemployment is still rising: 10½ million are now long term unemployed
The latest unemployment statistics from Eurostat show that unemployment within the EU-27 now is beyond 25 million corresponding to an unemployment rate of 10.4 percent of the total workforce in EU-27. From April 2010 to March 2011 unemployment had a slightly decreasing tendency but has since increased with 2½ million people. To make matters worse long term unemployment is also rising so that now 10½ million people are long term unemployed. More than four out of ten unemployed have been without a job for a year or longer. The rise in the long term unemployment is a warning that unemployment within the EU-27 – which is at its highest level in 12 years – will stay high in the coming years. If that happens it will become even more difficult to create growth and healthy public finances within the EU.