Tuesday, January 31, 2012
Eurostat today released the December unemployment rate estimates (graph above). December is unchanged over November. It's hard to read too much into any one month but I think this qualifies as good news: one might have feared that the damage to the real economy was going to accelerate, but instead it's slow and halting.
Still - unemployment is now higher in Europe than it was at the height of the recession following the 2008 financial crisis. It remains a bad situation that still seems likely to get worse before it gets better.