Friday, August 2, 2002

Why is the unemployment rate so high in Portugal, Italy, Greece and Spain?

I just looked them up on google and I don't understand why.
Could someone please explain it to me? Thank you!!

Answer on Why is the unemployment rate so high in Portugal, Italy, Greece and Spain?

This
http://www.tradingeconomics.com/Economic…
is unemployment rate in the US... just think it is an average of all American states, while you reported the peaks inside European Union. Do you se any big difference, between EU rate (10.1%)
and USA rate (9,4%)...? Anyway, you put Italy in the list, which have a lower unemployment rate, compared to the US, just like the other bigger EU Countries, Germany, France and the UK (according to *your own* link, all below 10%, or even below 9%).

Still, just look at the US stats:
http://www.tradingeconomics.com/Economic…
it all began by the end of the 2008, when the sub-prime mortgage scandal hit the world like a financial earthquake... the responsible of the current unemployment rate in Europe as well in the US are the US themselves: your economy, your way to make money and the way it all is (un)controlled by US authorities is the reason, regardless you (and some people above) like it or not.
Just think before the US crisis unemployment rate in Italy was 5.3%...