Greece Sees Record Rise in Unemployment in 2011

Greece, Cyprus and Spain are the EU countries seeing the highest rise in unemployment at the end of 2011 compared with the same period in 2010. This was seen in Eurostat data, which showed that Greece had the highest rate, with 13.9% unemployed in October 2010 and 19.3% in October 2011.

Then came Cyprus (from 6.1% in December 2010 to 9.3% in December 2011), and Spain (20.4% in December 2010 compared with 22.9% in December 2011). The EU data showed unemployment went from 9.5% to 9.9%, while in the Eurozone the figure rose from 10% to 10.4%.
(source: Eurostat, ANSA)

On a monthly basis in the Eurozone, the unemployment rate in December of last year was unchanged compared with November at 10.4%. Also in the EU-27, the rate was stable in December compared with the previous month at 9.9%. The worst was still Spain, at 22.9%. As concerns the young, the number of unemployed youths under age 25 in the EU as of December 2011 grew by 241,000 in the EU-27 and by 113,000 in the Eurozone, rising to 5.493 billion people. The highest figure was that of Spanish youth unemployment (48.7%), followed by Greeks (47.2%), Slovaks (35.6%), Italians (31%) and Portuguese (30.8%).