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Greek Youth Unemployment Highest in EU

Unemployment among Greek youth hit 55.4 percent in August, making it the worst in the 27 countries of the European Union and another sign the crushing economic crisis is not abating.
According to theĀ  report from Eurostat, the official statistics agency, unemployment for Greece’s young has overtaken Spain (52.9 percent) and Italy (34.5 percent).

In August 2012, 5.458 million young persons (under the age of 25) were unemployed in the EU recording an increase by 164,000 from the same period last year. In the U.S., youth unemployment rates are at 16.8 percent, while in the UK they are 21 percent.

In Greece, half of the high-school and college-graduates are searching for a job with little prospect of success amidst the ongoing recession, while the devastating numbers from August – which is considered to be a month with more job opportunities – leave little hope for what the winter holds.

Overall, unemployment rates have increased across the EU since last August, while Japan’s unemployment rate was 4.1 percent in August according to Eurostat, and the United States reported 8.1 percent.

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