Spain breaks world record in unemployment

Southern Europe is suffering from the highest proven unemployment in the world, country specific statistics provided by the ILO for Financial Times Deutschland show. Spain holds the world record with 24.5% unemployed, followed by Greece (22.3%). The ILO is responsible for drawing up and overseeing international labour standards.

Number of people unemployed for over a year continues to rise

According to the OECD’s latest Employment Outlook the proportion of jobseekers who have been out of work for over a year increased from 24.2% to 32.4% between 2009 and 2010.
In Europe, Spain, Ireland and the United Kingdom are among the worst hit, with the proportion of long-term unemployed rising between 2009 and 2010 from 30.2 to 45.1% in Spain, 29 to 49% in Ireland and 24.5% to 32.6% in the United Kingdom. In the major OECD economies, long-term unemployment has fallen only in Germany.

The document also points out that helping young people must be a priority. In the first quarter of 2011, the unemployment rate for people aged 15 to 24 was 17.4 per cent in the OECD area, compared with 7 per cent for adults aged 25 and over. Targeting youth will reduce the risk of young people falling into long-term unemployment and losing touch with the job market.

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