Breaking news

EU Unemployment Reaches Historic Lows, Long-Term and Youth Rates Show Significant Improvement

by THEFUTURE.TEAM

November 11, 2024

According to the latest data from Eurostat, unemployment across the European Union has fallen to its lowest levels in recent history. The statistics reveal a decline in the number of people out of work, with only a little over 6% of the working-age population currently unemployed.

Key Statistics

Overall Unemployment: In 2023, the EU’s unemployment rate for those aged 15-74 stands at 6.1%, the lowest since 2014.
Long-Term Unemployment: The rate of long-term unemployment, measuring those out of work for over a year, has also hit a new low, at 2.1% of the labour force in 2023.
Highest Long-Term Unemployment: Greece reports the highest long-term unemployment rate within the EU at 6.2%, followed by Spain at 4.3% and Italy at 4.2%.
Lowest Long-Term Unemployment: Denmark and the Netherlands report the lowest rates, both at 0.5%.

Youth Unemployment at Record Low

Youth unemployment, defined as those aged 15-29, has also dropped to a record low of 6.3% in 2023, marking a continuing downward trend. However, disparities between countries are noticeable:

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Highest Youth Unemployment: Sweden has the highest youth unemployment rate in the EU at 10.9%, closely followed by Spain (10.8%) and Greece (9.8%).
Lowest Youth Unemployment: The Czech Republic leads with the lowest rate at 2.4%, with Bulgaria (3.2%) and Germany (3.3%) close behind.

This data highlights significant strides in labour market recovery and stability across the EU, although variances remain between member states. Countries like Greece and Spain continue to experience challenges, particularly in reducing long-term and youth unemployment rates. However, the overall trend points to a stronger labour market, with more EU citizens gaining employment and fewer experiencing prolonged joblessness.

The Future Forbes Realty Global Properties

Moonshot’s Kimi K2: A Disruptive, Open-Source AI Model Redefining Coding Efficiency

by THEFUTURE.TEAM

July 14, 2025

Innovative Approach to Open-Source AI

In a bold move that challenges established players like OpenAI and Anthropic, Alibaba-backed startup Moonshot has unveiled its latest generative artificial intelligence model, Kimi K2. Released on a late Friday evening, this model enters the competitive AI landscape with a focus on robust coding capabilities at a fraction of the cost, setting a new benchmark for efficiency and scalability.

Cost Efficiency and Market Disruption

Kimi K2 not only offers superior performance metrics — reportedly surpassing Anthropic’s Claude Opus 4 and OpenAI’s GPT-4.1 in coding tasks — but it also redefines pricing models in the industry. With fees as low as 15 cents per 1 million input tokens and $2.50 per 1 million output tokens, it stands in stark contrast to competitors who charge significantly more. This cost efficiency is expected to attract large-scale and budget-sensitive deployments, enhancing its appeal across diverse client segments.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Benchmarking Against Industry Leaders

Moonshot’s announcement on platforms such as GitHub and X emphasizes not only the competitive performance of Kimi K2 but also its commitment to the open-source model—rare among U.S. tech giants except for select initiatives by Meta and Google. Renowned analyst Wei Sun from Counterpoint highlighted its global competitiveness and open-source allure, noting that its lower token costs make it an attractive option for enterprises seeking both high performance and scalability.

Industry Implications and the Broader AI Landscape

The introduction of Kimi K2 comes at a time when Chinese alternatives in the global AI arena are garnering increased investor interest. With established players like ByteDance, Tencent, and Baidu continually innovating, Moonshot’s move underscores a significant shift in AI development—a focus on cost reduction paired with open accessibility. Moreover, as U.S. companies grapple with resource allocation and the safe deployment of open-source models, Kimi K2’s arrival signals a competitive pivot that may influence future industry standards.

Future Prospects Amidst Global AI Competition

While early feedback on Kimi K2 has been largely positive, with praise from industry insiders and tech startups alike, challenges such as model hallucinations remain a known issue in generative AI. However, the model’s robust coding capability and cost structure continue to drive industry optimism. As the market evolves, the competitive dynamics between new entrants like Moonshot and established giants like OpenAI, along with emerging competitors on both sides of the Pacific, promise to shape the future trajectory of AI innovation on a global scale.