tagged: 000 new jobless eveyr month, 17.5%, 20, basic needs, ELSTAT, food, Greece, inflation, price increases, September 2011, unemployment, utilities

Greece: Unemployment at 17.5% – 20K New Jobless Every Month

Posted by keeptalkinggreece in Economy, Society

I should have started this post with a sentence like “Shocking data” or “Dramatic increase” but I don’t. I am neither shocked nor surprised about the new unemployment rate. Greek Statistics Authority ELSTAT issued the new data for September 2011. Unemployment is at 17.5% which translates into 857,656 people without a job.  Almost one in two young people , aged 15-25, has no job. Sept 2011 data showed the unemployment rate amongst youth at 46.4%, while in Sept 2010 the rate was 33.). Unemployment among women is at  21% (16.7% in Sept 2010) and among men  14.9% (9.6% in Sept 2010).

230,000 people have lost their work place within one year.; that is every month 20,000 people stop working.

The number of economically inactive population (4,44,050) in Greece is higher than the economically active population (4,051,109).

Deterioration of Society

The deterioration of the living standards of people across the country is striking as the Greek households earn in the average 15% to even 90% less than last year. Even though they cut expenditures and the market has dried out form cash, the prices and the cost of living increase in a galloping speed.

Inflation went up at 2.9% in November 2011 ( 4.9% in Nov 2010).

The prices for goods of basic needs got on fire in comparison to 2010. An average increase of 3.8% has been recorded in food like fruits, vegetables, flour, meat, fish, dairy products, eggs, sugar, oil and fat, beverages. “Part of the price increases was balanced through the price decreases in potatoes” notes the ELSTAT [ proving that also statistics-freaks have humor!]

An increase of 4.5% was recorded in alcoholic drinks and cigarettes. Home utilities like heating, natural gas, electricity, repairs went up by 9.3%.

The highest price increases were recorded in Sugar 22.4%, Heating Oil 34.6% and Natural Gas 25.3%.

PS I’m trying to locate Christmas presents worth no more than 2 euro….