Turkey, which in the 1950's was forced to send workers to Europe due to the lack of a trade circle, is now watched in envy by the 17-member Euro Zone nations. While on the one hand Europe is drafting reform packages to save nations in economic crisis, on the other hand it is currently engulfed in its biggest struggle in history with unemployment. Whereas in Turkey, where a number of foreign firms have begun to invest; the rate of unemployment amongst the youth is on a fast decline.
HISTORICAL LEVELS
According to figures from Europe, the 28-member European Union has reached a historical level unemployment rate of 10.9 percent. In the 17-member Euro Zone, the unemployment rate is 12.1 percent.
According to Turkish Statistical Institute (Turk-Stat) data, the unemployment rate in Turkey lowered to 9.2 percent at the end of 2012, while according to the calculations of Eurostat that figure is perceived as be even lower at 8.1 percent. In other words, both according to TurkStat and the EU Turkey's unemployment rate is lower than that of 15 EU nations.
GREECE LEADS IN UNEMPLOYMENT
Greece, which is currently at the center of the economic crisis, is the country with the highest rate of unemployment in the European Union. Concerns of a social explosion have surfaced in Greece which has a 26.8 percent unemployment rate. The situation is not much different when it comes to unemployment rates for countries such as Spain, Portugal, Ireland and Italy which are all also grappling with financial troubles. France, which is one of the building blocks of the union, is doing all that it can to hold on to the 10.4 percent unemployment rate. Meanwhile in Croatia, a nation which quickly fulfilled its criteria to enter the EU, the unemployment rate is at 16.6 percent. At this rate, the country draws the unemployment average even higher. The unemployment rate in Portugal is at the 17.6 percentile level, while the unemployment rate in Spain is at 26.6 percent.
