The unemployment rate in the 16-nation euro zone soared to a ten-year high of 9.6 per cent in August, as the region continued to feel the tremors of the financial turmoil.
Euro zone -- a group of 16 nations that share the common currency euro -- has seen the jobless pace jump to 9.6 per cent in August, little higher than 9.5 per cent in July.
In August last year, the rate stood at 7.6 per cent. Eurostat, the official statistical agency for the European community, today said the unemployment rate is the highest since March 1999.
A staggering 15.165 million people were jobless in the region in August.
In the European Union region, the unemployment rate in August was at 9.1 per cent, the highest since March 2004. The same stood at nine per cent in July.
As many as 21.872 million people were without a job in the 27-nation European Union in August.
"Compared with August 2008, unemployment went up by 5.008 million in the EU and by 3.224 million in the euro area," Eurostat said in the statement.
Among the countries, the unemployment rate was the highest in Spain at 18.9 per cent and Latvia (18.3 per cent), while the lowest was seen in the Netherlands at 3.5 per cent.
Meanwhile, many of the major economies including France and Germany have exited recession and the region as a whole is slowly seeing signs of stabilisation.
Agencies
Showing posts with label highest. Show all posts
Showing posts with label highest. Show all posts
Thursday, October 1, 2009
Tuesday, March 17, 2009
Is Indian CEO confidence highest in world?
Indian CEOs expect their businesses to be less affected by the crisis in the international banking system than their global counterparts.
PricewaterhouseCoopers’ 12th Annual Global CEO Survey found only 50% of the respondents in India saying they were likely to be affected by the credit crisis, as compared to 70% globally.
India has recorded the highest CEO confidence levels amongst the emerging economies, with 70% expressing confidence about both short term and long term revenue growth, compared to just 21% and 34% globally. CEOs worldwide were gloomier about longer-term growth, predicting a slow recovery.
“This confidence is extremely significant since it signals the inherent strength of the Indian market, and its continuing potential for growth even in the face of crisis,” said Ramesh Rajan, chairman of PwC, India. Pessimism prevailed across all geographic regions, business sectors and levels of economic development, said the survey. Only 15% of CEOs in North America and 15% in Western Europe expressed confidence about growth prospects for the next 12 months. This compared with 21% in the emerging economies of Central and Eastern Europe, 31% in Asia Pacific, and 21% in Latin America.
The outlook for the next 12 months was optimistic for Indian CEOs as 89% of the respondents expect to make a return on investment in products or services provided, compared to 69% globally. 60% of Indian respondents said that they were likely to grow their businesses by penetrating existing markets better, compared to 37% globally.
Indian CEOs indicated that M&A activities were likely to play a greater role in the growth of their businesses than JVs or strategic alliances, in contrast with the global trend. 97% of Indian CEOs indicated that information about employee views and needs was important in making decisions about the long-term success and durability of their business, compared to 88% globally. The India figure was highest in Asia too.
For the survey, 1,124 interviews with CEOs were conducted in 50 countries during the last quarter of 2008.
Times of India
PricewaterhouseCoopers’ 12th Annual Global CEO Survey found only 50% of the respondents in India saying they were likely to be affected by the credit crisis, as compared to 70% globally.
India has recorded the highest CEO confidence levels amongst the emerging economies, with 70% expressing confidence about both short term and long term revenue growth, compared to just 21% and 34% globally. CEOs worldwide were gloomier about longer-term growth, predicting a slow recovery.
“This confidence is extremely significant since it signals the inherent strength of the Indian market, and its continuing potential for growth even in the face of crisis,” said Ramesh Rajan, chairman of PwC, India. Pessimism prevailed across all geographic regions, business sectors and levels of economic development, said the survey. Only 15% of CEOs in North America and 15% in Western Europe expressed confidence about growth prospects for the next 12 months. This compared with 21% in the emerging economies of Central and Eastern Europe, 31% in Asia Pacific, and 21% in Latin America.
The outlook for the next 12 months was optimistic for Indian CEOs as 89% of the respondents expect to make a return on investment in products or services provided, compared to 69% globally. 60% of Indian respondents said that they were likely to grow their businesses by penetrating existing markets better, compared to 37% globally.
Indian CEOs indicated that M&A activities were likely to play a greater role in the growth of their businesses than JVs or strategic alliances, in contrast with the global trend. 97% of Indian CEOs indicated that information about employee views and needs was important in making decisions about the long-term success and durability of their business, compared to 88% globally. The India figure was highest in Asia too.
For the survey, 1,124 interviews with CEOs were conducted in 50 countries during the last quarter of 2008.
Times of India
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