Chart of the Day: Unemployment in Europe Is Catastrophically High and Still Getting Worse

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This is from the OECD’s Employment Outlook 2013, and it shows the level of unemployment in the world’s rich countries. Joblessness in Greece and Spain is at about 27 percent, higher than the United States suffered even during the depths of the Great Depression. Portugal, Ireland, Slovakia, and Italy are at somewhat less catastrophic levels, but still in dire shape.

But here’s the worst part. See those white diamonds above each of the blue bars? That’s the OECD forecast for the end of 2014. In nearly every case, it’s equal to or higher than the current unemployment rate. Think about that: It’s been five years since the financial crisis hit, and in lots of countries unemployment is still sky-high and getting higher. It’s a ruinous and heartbreaking waste of human capital. The Economist has more here.

HERE ARE THE FACTS:

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ONE MORE QUICK THING:

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As we wrote over the summer, traffic has been down at Mother Jones and a lot of sites with many people thinking news is less important now that Donald Trump is no longer president. But if you're reading this, you're not one of those people, and we're hoping we can rally support from folks like you who really get why our reporting matters right now. And that's how it's always worked: For 45 years now, a relatively small group of readers (compared to everyone we reach) who pitch in from time to time has allowed Mother Jones to do the type of journalism the moment demands and keep it free for everyone else.

Please pitch in with a donation during our fall fundraising drive if you can. We can't afford to come up short, and there's still a long way to go by November 5.

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