Unemployment Explodes with 16.6% – 822K Greeks Without Job

Posted by keeptalkinggreece in Economy, Society

The dramatic situation in the labour market is now been confirmed statistically. Unemployment hit a new historic record in May reaching 16.6 percent. According to Greek Statistics Authority (ELSTAT), the number of inactive Greeks (4,388,000) exceeds that of active/employed Greeks (4,131,528).

In comparison, unemployment was  12.0% in May 2010 and 15.8% in April 2011. The number of unemployed is officially  822,719 people. Excluded from this official numbers are not-registered jobless and those self-employed who have closed down their enterprises.

In May, the number of employed decreased by 299,798 persons. 

Taking into consideration the statistics, during the month of May, 1,450 people were laid off daily.

The 16.6% rate comes a bit surprisingly as traditionally the tourism sector starts hiring personel already in April.

Jobless in Greece receive an unemloyment allowance of 465 euro/month for one year for the whole lenght of their professional life.

I am really fed up to hear “We need development measures” every time the unemployment rates are out. “Development” I hear, and “development” I don’t see. I wish, I would have stayed in Urania’s farm in Petra…