Tuesday, January 15, 2013

PIIGS Unemployment

Greece's October unemployment rate was 26.8%; Spain's November unemployment rose to 26.6%; Italy, Ireland and Portugal's November unemployment rates either stayed the same or declined.
PIIGS unemployment rates.
Take a look at the population statistics over the same time period; Greece and Portugal have seen declines in population - Portugal's population is below its 2006 level.  Spain's and Ireland's populations have plateaued; Italy's population growth (it seems) has not been negatively affected by the recent recession.  There have been media stories over the past year of people leaving Greece, Portugal and Spain to find work - mainly young adults (whose demographic suffers from extreme unemployment).
PIIGS population. Source: Eurostat.

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