Friday, April 9, 2010

Unemployment and Inflation Rise in Europe

This article discusses the rise in some of the vital components of Europe's economy in the month of February. Countries included in this article are the 14 that currently use the Euro as their form of currency. These countries saw unemployment rise to 10 percent in February, which is high even for U.S. standards. Also these countries saw an increase in inflation which economists believed had to due with an increase in food and oil prices. This makes sense in the cold months of February because demand for oil increases, and the cost of transporting fresh fruits and other foods increases.
As far as the unemployment rate goes the highest rate of a European country was in Spain where unemployment was 19 percent. The lowest country was the Netherlands which was at four percent.

2 comments:

  1. Global recession of the last year had to have some aftermath. And these are few of those examples. If you remember that in the Economic Outlook Conference the speakers were arguing about the infaltion but both of them agreed that there will be a bubble in fuel price before any revolutionary renewable fuel source is found. I think the increase in fuel price is an indicaiton that we are out of recession but approaching an inflation.

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  2. Maybe the good welfare system in Europe also contribute to the unemployment rate growth. Since the welfare is good, people do not have many incentives to look for jobs. Europe countries should find a way to stimulate their economies and to create new job opportunities.

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