Friday, May 31, 2013

Eurozone unemployment rate hits 12.2% - Austerity blamed

The Eurozone's employment situation is getting worse, but they're blaming austerity?  Really?
The unemployment rate in the Eurozone hit a record 12.2% last month as the region continues to battle a lengthy recession triggered by austerity measures and debt problems in some key nations.
Joblessness has soared over the past two years as the 17-nation, single-currency region fell back into recession after the worldwide global slowdown that hit in 2008-2009.
The unemployment rate reached a new record in April after two months at the previous high of 12.1%, Eurostat, the region's statistical office, said Friday.
The rate was 11.2% one year earlier and has been climbing steadily since mid-2011.
This is austerity?  Maybe for Greece...

Eurostat makes it clear - spending is rising, not falling:

"Austerity," hah!

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