Unemployment in Greece hit a new record in October 2011 with 18.2% of the population being without job. In September 2011 unemployment was 17.5% and a year earlier (Oct 2010) 13.5%. According to Greek Statistics Authority (ELSTAT) 903,525 Greeks have no job and the number of economically active, i.e. people who earn money, is lower than the number of people who do not work or seek a job.
Economically Active Greeks: 4.065.775 vs. Economically Inactive Greeks: 4.382.356
Most hit by unemployment are women with 21.3% (17.6% in Oct 2010) and the youth 15-24 years old with 45.5% (34.5% in Oct 2010).
Unemployment in men is at 15.9%.
In the age group 25-34 years, the unemployment is at 25.3%.
Unemployment is Greece rose rapidly after August 2010. The additional taxes to properties and enterprises, the emergency poll-tax to everything that walks, flies and swims and the VAT hikes strangulated the consumption and forced many small and medium enterprises to close.
The unemployment rates refer only to employees and do not include self-employed who closed down their businesses.
PS I wonder what the rate of unemployment for the whole 2011 will be. Taking into consideration that the monthly unemployment rates get published with a three-month delay, in April 2012 we will get the total rates for 2011….
