Home Greek news economy Greek Jobless Rate New Record 27%

Greek Jobless Rate New Record 27%

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There are 1.35 million people in Greece's unemployment lines.

There are 1.35 million people in Greece’s unemployment lines.

Greece’s jobless rate hit a new record 27 percent in November, 2012 – some 61.7 percent for those under 25 – as statistics showed the economy shrank by 6 percent in the last quarter of the year, a double dose of bad news for the government.

The Hellenic Statistical Authority (ELSTAT) said that the country’s unemployment rate was more than double the Eurozone’s average rate of 11.7 percent in November. Some 323,808 Greeks lost their jobs between November 2011 and November 2012, reflecting a jump in the rate of 6.2 percent. Unemployment is now roughly double what it was at the beginning of 2010.

There are more than 1,350,181 unemployed and the ranks rise by 887 a day, all in the private sector as the government still has not moved to reduce the hugely redundant public workforce despite three years of promises to do so.

There as a small drop in the number of inactive people, who reached 3,339,982, slightly higher than the number of employed, which stood at 3,642,102 in November. The rate of unemployed for those 25-34 is now 36.2 percent. The gloomy numbers don’t include those for whom benefits have run out, suggesting there are as many as two million people in Greece without work.

Prime Minister Antonis Samaras has vowed to do something to increase employment that some analysts said could surpass an overall rate of 30 percent, but hasn’t done anything yet. If the government begins to implement layoffs in the public sector, the rate could jump rapidly.

Needless hirings over the past 40 years by the New Democracy Conservatives and PASOK Socialist administrations fueled the crisis, and the current coalition government has been reluctant to begin imposing layoffs and firings. Greece’s lenders, the Troika of the European Union-International Monetary Fund-European Central Bank (EU-IMF-ECB) wants the public workforce of nearly 1 million cut by 150,000 in three years.

All that came as Finance Minister Yiannis Stournaras had given a “100 percent guarantee” that Greece would start to climb out from under a $460 billion debt after austerity measures cut the deficit from 9.4 to 6.5 percent in one year.

The optimistic Stournaras has been trying to give downcast Greeks a boost with his rosy expectations that their sacrifices have been worth it, although the country still has largely ignored going after tax cheats who owe more than $70 billion.

Combined with more pay cuts, tax hikes and slashed pensions that have taken 46.5 percent out of the income of Greeks and slowed spending, further reducing tax expectations despite big tax hikes, the new numbers were a big setback for the government.

With tax revenues far off expectations in January, with some 775 million euros ($1.03 billion) less coming in than projected despite a 23 percent Value Added Tax (VAT) applied to restaurants, stores, and even food, the government could have nowhere else to turn to reduce costs other than more austerity measures despite Samaras’s vow he wouldn’t.

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  • Journalist

    Germany stinks. Ratzinger stinks much more.

  • Alex

    “Needless hirings over the past 40 years by the New Democracy Conservatives and PASOK Socialist administrations fueled the crisis”

    And what party were you supporting for the last 40 years Mr. Innocent Andy? All I hear you do here is whine about every party without explaining who you support. And despite that you claim to be anti-communist, in practice you keep going on rants of the elite versus the poor anti-government rants just like our communists do. Call it a humch but I doubt you voted for smaller government. Leftists like you mostly likely cheered on Pasok… and now like Syriza’s supporters pretend you didn’t.

  • Cypriot

    Let’s be honest, all previously elected parties have been responsible.

  • Alex

     I completely agree. What p*sses me off is the holier-than-thou attitude of some Greek leftists that wildly supported Pasok for decades and not pretend they didn’t.  This is particular true of Syriza supporters (most of whom are former Pasok voters). Call it a hunch but given Andy elite-versus-poor Dablis sounds like Tsipiras half the time, I doubt he was voting for smaller government.

    We have to move on from past mistakes not repeat them. One of our past mistakes was government spending too much money and not enough focus on personal production. . Both ND and Pasok did this…. but they are now trying to correct that mistake. Unfortunately some of our leftist welfare queens don’t want to change. They’ve instead doubled down on their stupidity and are voting even further left. They’re like spoiled children suckling their mothers breasts as adults. 100% redistribution of nothing still adds up to nothing. Its time for Greeks to get back to the real world where one has to produce something if one wants wealth.

  • Cypriot

    Well it’s hard to classify their overspending as a mistake. You see, much of the overspending has been due to the oversized public sector which as we know grew because the corrupt politicians bribed citizens to vote for them by giving them jobs, i.e. giving them money (their yearly salary). What Greece needs to focus on is transparency. There is no good reason why the public should not be informed about where money is spent in government. This will give the people confidence and just as importantly, give investors confidence in the political system. It’s not difficult to implement transparency, this information should merely be available on the government website in an easily accessible and simply presented manner so that anyone can understand it as long as they can read. We need an equal playing field, but we can’t achieve that with a corrupted government.

  • Tzak12345678

    I didnt think it was a bad article Alex and confirmed what we knew all along.

    I understand your concern in how alot of these articiles are reported as the aim to divide us using leftist jargon i.e. elitist vs poor but this wasnt isnt too bad. But this one wasnt too bad.

    BTW keep up the good work with the Vardaskans…You propably know this but it it is not just indiviudals Vardaskan blogging on this site trying to do their bit for their cause but conceted effort sponsored by the governemnt of Vardaskar-Benovina to divide us using class warfare strategies.

    I believe these Vardaskans should be more concerned in the 30% Albanina minority uspring their territory (with Turkish support)  in the next two generation rather than focusing such hate on a neighbour that shares the same religion and is their second/third largest trading partner.

  • Alithia

    27% unemployment …..but foreigners brought in the olives and oranges. Why? 

    I wanted to pressure wash my roof and the guy wanted 500 Euros CASH a day. Bought the machine and two foreign workers (40 Euros a day each). Done in one day. Why? 

    I want to paint the house and they want 3,500 Euros CASH. Material is only 800 Euros and it’s less the a weeks worth of work for 3 guys. Why? 

    The mechanic tells me his time is worth 50 Euros CASH an hour. Why?

    The doctor wants 80 Euros CASH for a 15 minute visit. Why?

  • Alex

    “much of the overspending has been due to the oversized public sector”

    Exactly. And this is why we now have to downsize to reflect economic reality of what we produce not what communist think they are worth. Austerity is not a choice.

    “which as we know grew because the corrupt politicians bribed citizens to vote for them by giving them jobs,”

    It was a two way street. Some voters  also carry moral responsibility by voting for the party they though would give them the most free things.

    “We need an equal playing field for entrepreneurs, but we can’t achieve that with a corrupted government.”

    I agree but is our government more or less corrupt today? I would say less and continuing to improve. I would also argue the communist alternative that want it to fail are intrinsically corrupt.

    Most important of all… our government is not our mothers. The lesson Greeks need to accept from this mess is we are each chiefly responsible for ou r own lifes. Always scapegoating the government for our problems, always waiting for the government to fix things for us, is just more of the same moral and intellectual cop out of the last few decades. If we want change, we will stop doing this. If we want more of the same, we will just keeping voting for  politicians that promise us free things to get elected (which the current coaltion government is currently not doing – which makes me see them as more honest than past administrations)

  • Alex

    The Skopians have gone mad with hate because we are forced to expose their lies because they once again threaten our country.   They are effectively trying to delete us. (because even they know deep down ancient Macedonians were hellenes). Alone they can’t do anything but they are working with nations much more powerful than ours to generate hate against Greeks.

  • Alex

    According to our far leftists the poor and middle class are all victims.

    After 70 years of these tired repetitive commie hot air speeches one would think most Greeks would be smart enough to not fall for it… but because of the debt mess we now have 30 percent of our population voting for communist knuckleheads. They really have no clue how much worse things can get.

  • Cypriot

    “I agree but is our government more or less corrupt today? I would say less and continuing to improve.”

    We can’t even get to the bottom of things with the Largarde list and none of the rich tax evaders have been caught. I know that there are also many poor and middle class tax evaders, and they too must be caught. But the rich suffer little from austerity whereas the latter two suffer greatly, hence it is more appropriate to catch them later once a proper tax system is established. So I think even the current politicians in place are corrupt. There’s no evidence to suggest otherwise.

  • Mental retard Kosta

    Wow. Even a roof painter thinks he is an attorney in Greece!

    Alithia. It’s a wonder how you enjoy the services of foreigners yet you are Greece’s number one bigot & GD supporter.

    You are a hypocrite & a traitor. You should support you fellow country men, no matter how much the cost.

  • Maco Style

    Retard. I don’t work for the Macedonian Govt but its quite clear that you do, accusing me for years that I do yet the hypocrite is one all along.

    What has Macedonia got to do with your countries failure you big fail?

  • Mental retard Kosta

    Oglou. You aren’t even a Greek you depressed hateful over aged goat

  • Alithia

    Not very bright, are you? 

    Since you don’t get it, I’ll make it simple enough for even a retard can understand. Greece is now split between the 30% who can still make a living from their higher skills/training and the rest who are completely, utterly, fully screwed. The unemployed wont go to the lesser jobs because the wage floor is 25 Euro’s because of illegal migrant workers.  Those older unemployed Greeks don’t have enough training to get a decent wage. Then add all the retired and old people, add all the young people with no skills and you got 70% of the  population who are suffering and helpless…and will be for the foreseeable future. 

    On top of all that, those skilled/trained people are demanding that they get paid in cash so they wont pay the taxman.

    Is that simple enough for you? 

     

  • Alex

     The funny thing about the illegals taking jobs at lower wages is the far leftists keep supporting them. (i.e. they are helping destroy their own wages) Most of our leftists are completely clueless . They live in a fantasy world of words were they can be unskilled workers in unskilled fields that produce very little, are highly non-competitive,…. but live like kings on the backs of others.

    I have less of a problem with taxes related to personal consumtion but when it comes to business ones, the lower the better. I would even be happy with no taxes on businesses whatsoever (see our successful shipping industry)  Our government needs to further reduce business taxes to at least give Greeks with half a brain the incentive to invest in industry.

  • Alex

    Incidentally…. “Mental retard Kosta” is a confirmed Skopian false flag. He calls FYROM “Macedonia” in another one of his posts.

  • Alex

    The better question is why do you Slavs now call yourselves Macedonians?   Why do you build giant statues to ancient Greek historical  figures? Why do you teach your schoolchildren MY country is “Greek occupied” Macedonia? Why do you now pretend to be related to ancient Macedonians? (apparently slavic now)

    Why not instead teach them about their ethnic Bulgarian past and end these games once and for all?

  • Alex

    A Skopian SLAV that has turned into ancient macedonian at the prompting of his government has no intellectual or moral credibility.

  • Alex

     Hey Skopian, are you related to ancient ancient Macedonians now? I thought your own government used to claim you are unrelated only a few years ago? Whats with the giant ALexander stattues in ancietn Paeonia?

  • Alex

     Notice “Alex Prime minister” (who claimns to be a “Greek Golden Dawn supporter” didnt’ post any anti-Skopian posts despite that these clowns are self-admitted Skopians)

  • Alex

    Of course the rich suffer less from austarity. They are rich. Should we expect them all to become poor for our mistakes as a country?

    Its not about elite versus poor. Its about corrupt versus not-corrupt.

  • Alex

    I think many middle class and poor are corrupt. There’s no evidence to suggest otherwise.

  • Alex

    Even considering tax evasion the fundamental question all Greeks should be asking is why are so many Greeks so heavily dependent on the state in the first place?

    This is not the fault of politicians or the rich. This is the fault of any middle class and poor that refuse to take responsibility for their own lives and instead expect others to pay their way through life vis-a-vis the state.

  • Cypriot

    A successful bribe is incomplete without accepting the bribe, thus both parties (the politicians and people) are to blame for the oversized public sector. However, the blame leans more to the politicians because they have oversight of the public sector and it is their duty to manage the public sector. The people should not need to know the size of the public sector and the financial burden which it is having on the country in order to decide whether to accept the bribe or not; really, they shouldn’t accept the bribe at all and should notify the police of the bribary. This of course is how society should work, but in practice it doesn’t. Why? Well it’s difficult not to accept a job paying €30,000 for a vote. Where are these people now? Probably in Germany spending the money they were given from the government for giving them their vote.

    To assume that the poor and middle class are more corrupt is foolish. The Lagarde list is a prime example of the rich tax evasion problem. There are of course more poor and middle class than rich so there will resultantly be more poor and middle class tax evaders (assuming that the percentage of corrupt citizens is equal), so without the statistics backing your claim it’s nonsense to state otherwise.

    Indeed, the rich shouldn’t be punished for being rich, but you seem to think that it’s as simple as just going in and firing everyone and taking everyone’s money. It isn’t. If they do this more people will have less and survival instincts will kick in. The result will be mass hysteria. At least the rich can withstand the austerity and tax collection, hence it is logical to start with them.

    This is slightly irrelevant to our discussion, but macroeconomics should seriously be a fundamental subject taught at all schools in Greece.

  • Alex

    “To assume that the poor and middle class are more corrupt is foolish.”

    To assume they are not is foolish.

    The vast majority of bribes in Greece are in the middle class and poor. The vast majority of abuse of government services are among the middle class an poor. The most lazinesss is to be found in middle class and poor. The most tax cheats are in middle class and poor. Most of the crime is middle class and poor.

    This doesn’t mean that this doesn’t exist among the wealthy or that the wealthy should be unaccountable only that the problems should not be framed as class warfare as our treasonous communists thieves looking to go on a looting spree.

  • Cypriot

    “The vast majority of bribes in Greece are in the middle class and poor.”

    With what money will a poor person bribe?

  • Alex

    “You are a hypocrite & a traitor.”

    I almost peed my pants laughing when I saw you write that Skopian.

    The truth is exactly opposite. You Skopian false flags on this website constantly attack the Greek patriots and support any clueless Greek leftists you can find to manipulate into supporting you.

  • Alex

    For the most part poor in Greece does not mean without money. It means people with less money than middle class.

  • Alex

    If you listen carefully to stories complaining about the corrupt rich being all to blame… virtually all of them are from leftist news sources. I myself  used to fall for it until I realize many leftist lie through constant embellishment of the facts or negation of facts that don’t match their beliefs (to ferment class warfare to go on a looting spree like common criminals)

    The fact is leftists gloss over the fact there is both massive corruption and incompetence in middle class and poor.

    If some Greeks wants to help the skopians, by all means they should join in the over-the-top anti-government rhetoric our far leftist imbeciles promote. The Skopians  want our current government to fail so communist can take political power.

    The treasonous clueless communist can be trusted to recognize the Skopians, give citizenship to massive numbers of illegals, and turn our country into a third world banana republic with their ridiculous economic policies.

  • Cypriot

    When I refer to poor I mean the people (who are plenty in Greece) who can’t afford food. This is the traditional use of the term “poor” at present.

    You’re going off on a tangent by talking about socialism and leftist parties, perhaps to distract from the topic at hand. To the point, the rich are to blame just as the middle class and the poor. Not all people, but a minority in each. There’s no point in making bold claims that the middle class and poor and more responsible without sufficient statistical evidence to back those statements. I say we settle it as anyone should: a lot of people from varying social statuses played a role in causing the current economic crisis.

  • Alex

    “who can’t afford food. This is the traditional use of the term “poor” at present. This is the traditional use of the term “poor” at present.”

    No. The term poor traditionally denotes an economic status below middle class. Typically it also represents someone that doesn’t have money to live comfortably.  While a minority of poor in Greece can’t afford food the vast majority can (and do have an income of some sort).

  • Cypriot

    Yes, poor is the class below middle class, but where does poor begin and end? Considering the middle class in Greece at present can’t afford luxuries, I’d put the poor at those who cannot afford to eat.