European Union Unemployment Rate 2017

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Above is a map displaying the unemployment rate for European Union member states as of May 2017. What sticks out is the slow economic recovery for the southern European states post-financial crisis, such as: Greece (with an unemployment rate of) 22.5%, Spain 17.5%, Itlay 11.3%, and Croatia 10.7%. Contrast this with the unemployment rate in the United States during the same period of 4.3%. The EU average unemployment rate stands at 7.8%, nearly twice as high of the US! An economic analysis of labor policies in most EU countries leads to this result as there is less fixability in the labor force among other factors. Despite this performance for the European Union as a whole, some countries are performing above average and are on par with the US in employment rate such as: Germany, Austria, Czech Republic, UK, Poland, and others.

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