Just for grins, I decided to jump over to the other side of the Atlantic to take a look at the employment picture over there to see how we stack up against the world’s largest aggregated economy. Given the state of global markets and economic trends, it should come as no huge surprise that things aren’t terribly different in Europe than they are here in the US, except perhaps to observe that where some of our (un)employment curves seem to be flattening out, theirs are still climbing steeply, whether viewed in terms of overall unemployment or youth employment.
To see and ponder some numbers for yourself, check out the EU employment situation and social outlook for June 2009 (click the PDF link for “Related Documents” to grab this report). The report analysis does, however, point to “deceleration in the page of the labour market deterioration” — in other words, the same phenomenon of things not getting worse as quickly as they did at the end of last year or in Q1 2009. That said, at 8.9 percent for June, EU overall unemployment isn’t quite as bad as US unemployment, which the US Bureau Of Labor Statistics posted at 9.4 percent for the same period. FWIW, it also looks like IT employment in Europe isn’t quite as hard hit as here in the US, either (see page 8 of the EU report cited above for more info). I was also a little tickled to see that the EU reports more directly on employment in the IT sector as “Computer and related activities.”