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Friday, 16 December 2011

Unemployment Hits New Record 17.5% – 900K Greeks Without Job

Unemployment Hits New Record 17.5% – 900K Greeks Without Job

Unemployment in Greece hits the one record after the other as recession and incredible taxes crack down the spine of the country’s economy. According to Greek Statistics Authority unemployment reached 17.7% in the months July, August and September 2011, traditionally the months were unemployment sinks due to seasonal jobs. In comparison, in the same time period of 2010, unemployment was at 12.4%, whereas it was 16.3% in the time April-May-June 2011.
The Greeks without job reached almost 900K , exactly 878,266. Almost half of them are long term jobless, that it they seek jobs for more than a year. Unoficially the number of unemployed is much higher the official statistics refer only to “employees”. Unofficially the number of unemployed is estimated to be around 23 percent.
PS I am after the Troika of Greece’s lenders should correct  their  forecasts that unemployment would be 17% during 2011.

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