Greece, Spain lead Europe's jobless parade

AP News
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Posted: May 22, 2015 8:42 AM
Greece, Spain lead Europe's jobless parade

SINTRA, Portugal (AP) — The European Central Bank has called on governments in the eurozone to clear away bureaucracy that burdens businesses and loosen rules on hiring and firing workers. The goal: bring down chronically high unemployment rates.

Here are the five countries with the highest jobless rates among the 19 that share the euro currency, followed by the five with the lowest rates.

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HIGHEST RATES

1. Greece, 25.7 percent.

2. Spain, 23.0 percent

3. Cyprus 16.0 percent

4. Portugal 13.5 percent

5. Italy 13.0 percent

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LOWEST RATES

1. Germany, 4.7 percent

2. Austria, 5.6 percent

3. Luxembourg, 5.7 percent

4. Malta, 5.8 percent

5. Estonia, 5.9 percent

Source: Eurostat.