Unemployment Rate on Rise in EU
Good and bad news knocked the euro zone doors at the same time. It was found that unemployment has broken yet another record, as another 173,000 people are out of jobs in October. However, on the other hand, consumer prices have declined to a great extent, which has given a respite to households.
While giving further information, it has been found that current inflation is at 2.2%, said EU's statistics office Eurostat. Experts said that things have been getting worse with every passing day. Inflation combined with unemployment has made the survival even more difficult.
Public debts are on rise, which has increased pressure not only on the government, but also on companies. Resultant of the same can be witnessed on increasing job layoffs. European Central Bank President Mario Draghi was found to be saying that if someone thinks that problems have finished then they are wrong.
They still need to find measures to overcome problems. He further affirmed that it does not mean that they will not come out of the problem, as they have been expecting to start growth from 2013. "The recovery for most of the euro zone will certainly begin in the second half of 2013", he added.
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