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Thursday, 7 June 2012

Unemployment in Greece Breaks New Record : 21.9% in Mar 2012

Unemployment in Greece Breaks New Record : 21.9% in Mar 2012Unemployment in Greece breaks one record after the other. According to Greek Statistics Authority (ELSTAT) unemployment reach 21.9% in March 2012, while it was 21.4% a month earlier and 15.7% in March 2011.
The total number of unemployed is 1.075.081 people aged 15-74. In 2008 the number of unemployed was 388,549 people.
Most hit by unemployment are young people 15-24 with 52.8% and women at 25.8%. Men are jobless at 18.9%.
Greece΄s jobless rate scaled a new record high of 21.9 percent in March from a revised 21.4 in February as the debt crisis and a deep recession continued to take a toll on the labor market, the country΄s statistics service said today.
Budget cuts imposed by the EU and the IMF as a condition to save the debt-laden country from a chaotic default have caused a wave of corporate closures and bankruptcies, according to Reuters.
Unemployment in Greece is almost twice the average jobless rate in the 17 countries sharing the euro, which was revised upwards to 11 percent in March.
ELSTAT Full Unemployment Report with previous years statistics HERE

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