The European zone is not getting the kind of employment generation their governments want. The private sector in the European zone is consciously cutting down on manpower and are only adding temporary workers rather than permanent employees.
This has resulted in the unemployment levels remaining at 10% levels, the highest in the last 12 years. The private sector alone needs to help the economy on this issue by generating more employment. For that it needs more orders from the exports market, which looks uncertain as of now.
Japan and US remain weak and they are the largest importers of European products and services. So the European unemployment level can come down only if there is an economic recovery in the US and Japan.
Europe unemployment remains at 10%
August - 31 - 2010 - Tuesday
