Chart of the Day: European Unemployment Hits New Record

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Eurostat announced today that unemployment in the euro area reached a record 12.1 percent in April. That’s not spread evenly, of course: unemployment was a mere 5.4 percent in Germany and a whopping 27 percent in Spain and Greece. Nor was it spread evenly across generations. Youth unemployment reached a staggering 24 percent overall, and was over 50 percent in Greece and Spain.

Let me repeat that: in Greece and Spain, more than half of those under age 25 didn’t have jobs. This is pretty plainly a recipe for disaster.

In other news, Eurostat also announced that inflation in the euro area had dropped from 2.6 percent a year ago to 1.2 percent in April. So I guess austerity is working. It sure has kept inflation from spiraling out of control, anyway.

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We've never been very good at being conservative.

And usually, that serves us well in doing the ambitious, hard-hitting journalism that you turn to Mother Jones for. But it also means we can't afford to come up short when it comes to scratching together the funds it takes to keep our team firing on all cylinders, and the truth is, we finished our budgeting cycle on June 30 about $100,000 short of our online goal.

This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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