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Greek Unemployment Soars By 1.5% In One Month, Hits Record 27.2%

Posted By admin On April 11, 2013 @ 10:44 am In Money Watch,Tile | Comments Disabled

Zero Hedge [1]
April 11, 2013

There was much hope in the feudal states of Europe that the monthly December drop in Greek unemployment – the first in years – was the beginning of the end for local misery. Alas, it appears the Greek statistics office leaarned a thing or two from the BLS and it was all seasonal adjustments. As reported earlier today, things just got much worse again, with January unemployment surging by 1.5% in one month to a new all time record high 27.2%. More importantly, the number of employed people in Greece, which dropped to a new record low of 3.617,771 compared to 3,888,400 a year ago (and down 11,653 from December), is now nearly as much as the entire inactive population at 3,346,423 and far below the ranks of the unemployed (1,348,694 – an all time high as well) and inactive.

Spread by gender, the unemployment rate for males was 23.9%, while a record 31.4% of eligible women had no job in January.

Finally, youth unemployment once again hit a record high 59.3% in January, even as unemployment among those aged 65-74 has soared from 0.9% in 2008 to 6.9% in 2013.

Some of the amusing, or not so amusing if you are a Greek citizen, charts and tables just release:

[2]

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Source: Elstat [5]


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URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/news/2013-04-11/greek-unemployment-soars-15-one-month-hits-record-272

[2] Image: http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2013/04/Greek%20Unemp%201.jpg

[3] Image: http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2013/04/Greek%20Unemp%202.jpg

[4] Image: http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2013/04/Greek%20Unemp%203.jpg

[5] Elstat: http://www.statistics.gr/portal/page/portal/ESYE/BUCKET/A0101/PressReleases/A0101_SJO02_DT_MM_01_2013_01_F_EN.pdf

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