9 Furthermore, the share of long-term unemployed in the euro area stood at an enormously high level of 46.8% in 2006, implying that almost every second person in the euro area labour force has been unemployed for more than a year. At the same time, although following a downward trend, the youth unemployment rate in the euro area amounted to 16.2% in 2006.
And the increased public concern about inflation is also reflected in the results of the autumn Eurobarometer survey, where more than 90% of Europeans ranked the rise in the cost of living as the number one issue of concern. And of course it is also a concern for us central bankers, whose mandate is price stability.