unemployment
Strikes called by Greece’s largest labour union on Wednesday halted ferries, disrupted public transport services and left some state-run hospitals running on emergency staffing levels in Athens and elsewhere. The General Confederation of Greek Labor, GSEE, led the strikes to demand the restoration of collective bargaining rights that were axed more than a decade ago during a severe financial crisis. Unemployment hit a record high of more than 27% in 2013, and has been dropping in the years since. However, it crept up to 11% in February, its highest level since August 2023. In Athens, protester...
Euronews (English)
The eurozone is facing weaker-than-expected growth prospects over the next two years and inflation may recede as rapidly as many would hope, leading to fewer rate cuts from the European Central Bank (ECB), suggests the latest economic forecast from global credit rating agency S&P. The bloc is going to have 0.7% GDP growth this year, slightly lower than the 0.8% in the previous forecast by S&P Global Ratings. There are doubts that the rebound in growth will be strong after 2024, partially because of alarmingly low productivity, which has an impact on economic output, employment and wages. "The ...
Euronews (English)
The fight against rising prices and social inequalities are the most important issues for European voters ahead of the European Parliament elections in June, according to an exclusive poll by Ipsos for Euronews. Beating out topics like climate change and immigration, economic issues represent four out of the top five topics that Europeans think should be the highest priorities for incoming decision-makers. The first-of-its-kind survey, conducted in 18 countries representing 96% of the EU's population, found that rising prices remain the leading electoral issue for Europeans, followed closely b...
Euronews (English)
The National Bank of Ukraine announced its March interest rate decision on Thursday, slashing key policy rates by 50 basis points, to 14.5%. According to the central bank, steady foreign exchange rates, reducing inflation and falling risks of decreased foreign aid were behind this decision. Price growth in Ukraine slowed more than expected to 4.3% in February 2024. However, the National Bank of Ukraine said: "The course of the full-scale war continues to be the key risk to inflation dynamics and economic development." The country has recently been approved for the Ukraine Facility programme by...
Euronews (English)
Inflation in the United States saw a sharper-than-anticipated rise in February, echoing the unsettling trend seen in January and sending worrying signals about the likelihood of imminent Federal Reserve rate cuts. The Consumer Price Index (CPI), as reported by the Bureau of Labor Statistics, climbed by 3.2% year-on-year in February 2024, slightly exceeding the 3.1% increase recorded in January and surpassing forecasts which also stood at 3.1%.Month-on-month, inflation rose as anticipated by 0.4%, a quickening on January's 0.3% pace. Excluding volatile components like energy and food, the core ...
Euronews (English)
The UK unemployment rate has risen for the first time since July and wage growth has eased, according to data released by the Office for National Statistics (ONS) on Tuesday. In the period from November to January, the unemployment rate unexpectedly climbed to 3.9%, up from 3.8% in the three months to December. Average earnings also slowed more significantly than expected, with pay growth excluding bonuses rising to 6.1% from 6.2% in the previous quarter. When bonuses are factored in, earnings grew 5.6%, down from 5.8% in the previous three months. This means that whilst wages are still growin...
Euronews (English)
German consumer sentiment could potentially be on the road to recovery, despite the country recently being battered by soaring prices and lacklustre economic prospects. The German GfK Consumer Climate Indicator for March, released by the GfK Group, came out on Tuesday, clocking in at -29.0, in line with market expectations. This was a notch above the 11-month low of -29.6, seen back in February. This was mostly due to income expectations touching a more than two-year high, at -4.8, up from -20.0 in the last month. However, economic prospects remained more or less the same, at -6.4, up from -6....
Euronews (English)
Hungary's unemployment rate jumped to 4.6% from November to January, up from 4% in the same period the previous year. The increase means that the number of people out of work aged 15-74 has gone up by 30,000 to 226,000, according to new statistics released by Hungary's central statistics office on Friday. The office said that of the total number of unemployed people in Hungary, 121,500 were men, with their unemployment rate rising to 4.7%. Some 104,300 women were also out of work, with their rate up to 4.5%. The statistics mark a steady but consistent rise in unemployment since mid-2022, as Hu...
Euronews (English)
In total, the number of unemployed people hit 2.77 million last month. This was mainly due to an uptick of 58,721 jobless people in the services sector, as well as a rise of 1,256 unemployed people in the agriculture sector. Industry also witnessed 440 more job seekers. However, the number of unemployed people in the construction sector reduced by 1,234. The number of net formal jobs also increased by 38,357 in January, taking the total number of jobs to 20.88 million, according to a separate Social Security Ministry report. Why is Spain struggling with increasing unemployment?One of the main ...
Euronews (English)
By Nidhi Jacob A video claiming that the Union government is providing an allowance of Rs 3,000 per month to the unemployed youth of India under the "Pradhan Mantri Berojgari Bhatta Yojana" is being widely shared on social media platforms. This is misleading. The Union government does not provide a nationwide scheme under the said title. BOOM found that the video was created by Arvind Arora, whose verified YouTube channel named "A2 Motivation by Arvind Arora" has 17.2 million subscribers. The video outlines specific eligibility criteria for applying to the alleged scheme, urging unemployed ind...
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