Business networks rally to fight record Eurozone unemployment level

Business networks rally to fight record Eurozone unemployment level

AUTHOR

chiefstaff

TIME TO READ

minutes 

UPDATED ON

January 8, 2019

Official data from statistics agency Eurostat has confirmed that unemployment across the Eurozone reached a record high of 12% in February 2013.

With financial institutions and whole countries in crisis and the decline of the Eurozone’s manufacturing sector worsening the economic turmoil that has already caused so much pain, many companies are struggling to survive.

Businesses under pressure often reduce their headcount as a quick means of saving money, but this hollowing out of the corporate structure erodes workforce motivation and loyalty, reducing efficiency and replacing it with uncertainty. Instead, the innovative development of 5 star business networks could allow companies to keep their staff and turn their fortunes around. In The 5 Star Business Network, which is due for release this month, award-winning author and entrepreneur Vivek Sood demonstrates how simply businesses can improve their position and fight the rising unemployment levels.

By using new technologies and taking advantage of globalization and opportunistic plays, strong and loyal 5 star business networks can be built, reducing individual companies’ level of risk and creating synchronicities that lead to massive gains. Packed with real-life examples of companies doing just this, The 5 Star Business Network is the one book that no company can afford to be without during these harsh economic times.


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  • The unemployment rate in the Euro Area edged down to 8.1 percent in August 2018 from the previous month’s figure of 8.2 percent and below 9 percent a year earlier. It was the lowest jobless rate since November 2008, as the number of unemployed continued to fall.

    The youth unemployment rate was 14.8 percent in the EU28 and 16.6 percent in the Euro Area, compared with 16.6 percent and 18.5 percent respectively in August 2017. The lowest rates were observed in Germany (6.2 percent), the Czech Republic (6.3 percent) and the Netherlands (7.7 percent), while the highest were recorded in Greece (39.1 percent in June 2018), Spain (33.6 percent) and Italy (31 percent).

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