European Union (Unemployment)
(i) Highest 2008-2012 = Spain , Lowest 2008-2012 = Netherlands.
(ii) Greece had the most significant increase in percentage unemployment between 2010 and 2012.
(iii) The Netherlands and Greece are two countries where the percentage unemployment decreased between 2006 and 2007.
(iv) Percentage unemployment increase between 2009 and 2012 = 1.5%. One reason for this increased unemployment percentage within the EU (27) is the outsourcing of many MNCs to countries beyond the borders of the EU, for example China. Here labour is cheaper and can save MNCs a great deal in expenses.
(v) An increase in unemployment has a number of knock on effects for an economy. A person unemployed requires increased support in the form of social welfare payments. These payments are funded by taxation and so place an increased strain on public spending which costs the state.