The unemployment rate now stands at 11.3% as compared with 10.1% in July 2011. Youth unemployment jumped from 20.7% to 22.6%.
The disparity between the stable and struggling nations is startling. Unemployment rates in Germany, Netherlands and Austria was around 5% while in Greece it was over 23% and Spain around 25%.
A spokesman for the Centre for Business Research said “It’s not the overall level that is of concern; it’s the divergence within the single currency area”.
Tim Corfield commented “These figures are just unsustainable. We are approaching a crunch time in the Eurozone over the next few months”.
MORTGAGES AND PAYDAY LOANS
Everybody knows it’s more difficult to get a mortgage these days.
But, did you know that at least one of the leading mortgage providers rejects anyone who has taken a payday loan in the past 3 months or who has had two or more payday loans within a year?
This rule applies even when the loan has been repaid in full and on time.
Written by Tim Corfield