Record High: Greek Unemployment Rate Nov 28.0%



unemployment22Greece’s unemployment rate rose further to a new record of 28 percent in November from a downwardly revised 27.7 percent in the previous month, the country’s statistics agency ELSTAT (Hellenic Statistical Authority) said on Thursday.
The rate is more than double the average in the 28-member eurozone of 12.1 percent in November, emphasizing the impact of more than three years of austerity on the employment sector in Greece.
Youth unemployment remained exceptionally high, hitting 61.4 percent in November of last year, according to ELSTAT.

Economists expect things to get worse in the early part of this year as companies continue to restructure and fire workers.
“As expected, the labour market showed a lagging reaction to other positive signs in the economy. The increase in unemployment is also due to a loss of support from tourism which was seen in the previous months,” said economist Nikos Magginas at National Bank.


4 COMMENTS

  1. “Greece is back.” “Greece will enter International markets.” Samaras – LIES LIES and more LIES by the corrupt coalition government. 28% unemployment is NOT the actual figure. True figure is above 30%. This percentage is considered a depression of a country. But then again, when you are receiving 6-10000 euros a month as a useless and corrupt politician would you expect any better ?

  2. To the coalition and their enablers, it’s all about the message not the content or details. This is merely the beginning of a broad program of publicity stunts to lure or lull the electorate into a false sense of security and if need be to panic them just as they did the last election.

  3. That’s effectively 28% of Greece’s eligible voters who will NOT be voting for New Democracy or PASOK. The New Democracy-PASOK coalition regime is headed for the dustbin of history.

  4. True and probably many more are disenfranchised thrown away by their rush to tax, regulate and undermine the economy. Desperation is beginning to set in as exemplified by ND’s highly questionable support of Spiliotopoulos as their candidate in Athens Mayoral election, and the almost daily utterance of platitudes from Stournaras and Samaras.