Average Unemployment Duration Hits Nine Months



unemployment_GreeceGuy Ryder, the director-general of the International Labor Organization, will present a report on the Greek job market in Parliament on Tuesday, during a joint session between the European and Social Affairs committees. 

As reported in the 2014 edition of the annual Global Employment Trends report, the average duration of unemployment in Greece has risen to nine months, while the average duration in Spain is eight months.

The International Labor Organization believes that the high rate of unemployment will continue over the next few years and has urged the Greek government to take measures in order to improve the situation. If the growth rate in Greece stabilizes around 3.5%, then the ILO predicts that the rate of unemployment may fall to 22% by 2019.

The international organization has warned Greece of the problems that may arise from uninsured employment and the destructive effect of workforce migration abroad. The ILO is currently conducting a study on collective redundancies, which will be discussed with the Troika in autumn.

Unemployment is a widespread problem in Greece that has mainly affected the country’s young population. Unemployment in Greece has reached 27% which is the highest in the EU, followed by Spain (25.6%). Greece has also the highest rate of youth unemployment with 58.3% of citizens under 25 being unemployed.


1 COMMENT

  1. Yea, that’s because unemployment benefits finish and unemployment does not offer any real opportunity.