Unemployment : Eu Faring Better in Crisis Than Us

Article excerpt

Unemployment has risen in the EU27 since the first quarter of 2008 due to the economic crisis. However, the increase has been smaller than in the United States, where the rate has overtaken the EU27 jobless rate despite having been lower at the start of the crisis. These are the findings released by Eurostat, on 11 May, in an analysis of the impact of the economic crisis on unemployment in the EU27 and the United States(1).

In the first quarter of 2010, the seasonally adjusted unemployment rate in the EU27 was 9.6%, just below the rate in the United States, which stood at 9.7%. US unemployment before the crisis was at its lowest level in the second quarter of 2007 at 4.5% and peaked at 10% in the fourth quarter of 2009. In the EU27, unemployment began to rise in the fourth quarter of 2008, when it stood at 6.7%. Since then, the jobless rate has increased, reaching 9.6% in the first quarter of 2010. While the rate continued to rise in the EU27 in the first quarter of 2010, it declined in the United States.

In both the EU27 and the United States, men are hit harder by unemployment than women. In the EU27, the jobless rate for men was 9.8% in first quarter 2010, compared with 9.3% for women. For the first time since the beginning of the Eurostat statistics series in 2000, the unemployment rate for men overtook the rate for women in May 2009. In the US, the unemployment rate was 10.7% for men in the first quarter of 2010, compared with 8.5% for women. As in the EU27, the unemployment rate for men in the US rose more quickly during the crisis than for women. …