Wednesday, January 22, 2014

EU Gloom

 One in four Europeans are at risk of poverty, the European Commission said. 

"We have seen a significant increase in poverty…even it unemployment is gradually reducing,"  EU employment commissioner Laszlo Andor said.

Increasing numbers of part-time workers and low wages are also expected to lead to a widening gap between rich and poor in Europe.

The EU's statistical agency estimates that more than 19 million people in the eurozone are unemployed. Youth unemployment stands at 23 percent. Greece and Spain had the highest jobless rates at 27.3 percent and 26.7 percent respectively - more than five times higher than Austria and Germany. The report estimates that 29 percent of the EU's unemployed were not receiving welfare benefits.

Only one in three Europeans are able to move above the poverty threshold within a year.

"In order for an adult to exit poverty, it is usually necessary to find a job. But it is not always enough: our analysis shows that getting a job is a way out of poverty in only half of the cases," said Andor. "Unfortunately we cannot say that having a job necessarily equates with a decent standard of living,"

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