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Jan 27, 2012

Unemployment in Germany, Spain & EU Compared

You can see before the introduction of the euro the unemployment rates in Spain and Germany converged.  Until recently Spain and Germany both had their unemployment rate around the average of the European Union. Over the last two decades on average Spain's unemployment rate was about just under 15%. Germany on the other hand had on average an unemployment rate of about 9 percent.

Since the crisis Spain's unemployment rose dramatically. Its now more than double the average in the European Union. In Germany the unemployment even decreased since the crisis. Germany's unemployment hasn't been this low for twenty years.

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