Property labor market in Europe: the unemployment rate has in fact remained unchanged in the last year, and indeed in the last month it has even returned to growth by 0,1%. This was noted by Eurostat in the update on the trend of employment in the European Union and in the Eurozone. The data speak for themselves: in September, the unemployment rate in the EU27 reached 9,7. In August, the threshold was 9,6%, the same as in September 2010.
The situation in the 17-member Europe is similar: in September the unemployment rate reached 10,2%. In August it was 10,1%, as in September 2010. At the European level, the situations of countries such as Spain weigh heavily (record unemployment at 22,6%), Greece (in July the jobless are 17,6%, the data for September are not available) e Latvia (in July the unemployed are 16,1%). It should be underlined that in the same reference period the United States recorded a lower unemployment rate than the EU and the Eurozone: 9,1%.
On the Italian front, the situation is no different: unemployment, in fact, has grown again, reaching 8,3%, in any case below the European averages. The data for our country indicate an increase in the jobless of 0,3% in one month, from 8% in August to8,3% in September. Values substantially stable to those of a year ago (the unemployed were 8,1% in September 2010), which also demonstrate in this case the immobility of the labor market and our country's difficulties in creating employment.
To be penalized young people (under 25): 3 out of 10 young people do not work (in September the unemployment rate reached 29,3%, the highest since September 2010), and in just one month – from August to September 2011 – the jobless index increased by 1,3% ( from 28% to 29,3%). What's more: in one year, unemployment among the under 25s increased by 1,6% (from 27,7% in September 2010 to 29,3% in September 2010). Unemployment is also on the rise among men (to 7,4%, +0,3% compared to August) and among women (9,7%, again +0,3% compared to August).
There is also no good news on the inflation front. The consumer price index in the euro area has nailed to 3% – same level as in September when instead it had recorded an increase of 0,5% compared to August. The level exceeds the ECB's 2% target by one percentage point. The Governing Council will meet this week and the discussion on interest rates, which have been stuck at 1,5% for months, will be on the agenda.
