Europe’s unemployment crisis is much worse than we thought

Unemployment is running at more than 24% unemployment in Greece. It is above 20% in Spain, and in France and Italy it is well above 10%, and has been stuck at those levels for many years. Given those terrible numbers, you might think that the eurozone’s jobless crisis couldn’t be any more crushing. But unfortunately you’d be wrong. In fact it is even worse than most people realize. Why? Because the official statistics only capture people who are actively looking for work. There are millions more who would be working...
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