Greece unemployment rate hits record high: 61% of youth unemployed

February 2014ATHENS Greece’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. And tying it all together was the Greek youth unemployment rate which posted a record high for November at 61.4%, and after a few months of declines which gave some hope that things are indeed improving is back to its old, soaring ways.–Greek Reporter
This entry was posted in Apathy, Anger, Mistrust, Disillusionment, Austerity, Bankruptcy, Boom and Bust Cycles, Civil Unrest, Economic Collapse, Economic Hardship or Loss, Fiat Money Printing Fiasco, Political Corruption, Political turmoil, Protests, Social Meltdown, Struggle for Survival, The Pyramid Model, Unemployment rising, Unsustainable Debt Burden, Widening gap between rich and poor. Bookmark the permalink.

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