Standard rate of unemployment in the euro area

Group of 20 defuse 'currency war'

According to figures published by the European Office for Statistics (Eurostat) yesterday that the unemployment rate in the euro area amounted to 11.8% of the working population in November, compared with 11.7% in the previous month.

In the euro area, the number of unemployed 18.82 million in November, an increase of 113 thousand for October and 2,015 million for November 2011.

The unemployment rate continued to rise to extraordinary levels in Spain, where it reached 26.6% of the actual labor continued, and in Greece, where 26% in September, the last month that the available data on unemployment.

In Greece, the unemployment rate moved from 18.9% to 26% between September 2011 and September 2012.

And also rose significantly in Cyprus from 9.5% to 14% between November 2011 and November 2012. In the same period, rising from 23% to 26.6% in Spain.

In November, recorded the lowest levels of unemployment in Austria (4.5%) and Luxembourg (5.1%) and Germany (5.4%) and the Netherlands (5.6%).

In all the countries of the European Union, unemployment remained stable in November compared Bactubr at 10.7%.

In total, the 26,061 million people were unemployed in the EU in November, ie 154 thousand more than October and 2,012 million more than it was the number a year ago.

For comparison, the unemployment rate in the United States reached 7.8% in December. In Japan reached 4.1% in November.

German Factory Orders

Data released yesterday showed that German factory orders fell more than expected last November while foreign demand declined by the end of 2012.

The Economy Ministry said that factory orders on a monthly basis shrank 1.8% in November after rising 3.8% in the previous month.

Analysts had expected to decline requests from factories 1.5% in November.

It contributed to the decline requests from German factories, reduced foreign demand of 4.1%. And declined requests from countries outside the euro zone, consisting of 17 countries, 6.5%, while orders from the bloc’s 0.2%.

And increased domestic orders in November rose 1.3% versus 0.2% in the previous month.

Corporate sentiment

And improved business sentiment in the euro zone again in December, but the unemployment rate rose to a new record high and households refrained from spending in the run-up to Christmas suggests that the exit area of ​​the recession will be slow.

The European Commission survey showed monthly for businesses and consumers yesterday that the economic sentiment in the euro zone, consisting of seventeen state rose 1.3 points to 87 continue to climb for the second consecutive month after falling for nearly a year.

But optimism that the euro zone is in the process of recovery of the banking and debt crisis severely affected public statements from the European statistics office Eurostat showed that unemployment in November reached its highest level since the start of the use of the euro currency in 1999.

And shows weak demand in the retail trade data published by Eurostat yesterday also, where sales rose only 0.1% in November compared with the previous month which is not enough to compensate for falling sharply in August and September and October.