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Greek Unemployment Shock: 22.6% in 1Q 2012 – Most Hit Women (15-25) with 60.4%

The only thing that seems to move forward in this debt-ridden and falling-apart country is the unemployment. Data released by  Greek Statistics Authority (ELSTAT) three days before the elections confirm the dramatic situation  more than one million Greeks live in.

In the first quartal of 2012, the number of Greeks without job and income rose to 1,120,097 and unemploymet broke a new record: 22.6% – that is the highest unemployment rate since 1998. In comparison: 20.7% in 4Q 2011 and 15.9% in 1Q 2011.

Among youth between 15 and 25 years old the unemployment is 52.7%, while the women at this age group are unemployed at 60.4%. 

In the general statistics women are mostly hit by unemployment with 26.5%, while men with 19.7%.

The rate of long term jobless (people seeking for job for more than 12 months) is 56.5%.

The highest unemployment rate is in Western Macedonia (28.5%) and Central Macedonia (24.7%). The lowest rate is in Southern Aegean (13.9%) and Ionian Islands (15.5%).

Among foreign nationals the unemployment rate is 30.5%, while the rate among Greeks is 21.8%.

At the same time, 71.7% of foreign nationals are economically active, a rate impressively higher than the one conecning  Greeks: only 51.7% are economically active.


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  1. Any reason the Greek Stock Market is rallying over 8% on this news, especially so close to the “endgame” election.

  2. The debt is a trap. Go out from euro.
    You’ll have a lot of money from your oil resources.
    You nedd of Europe no more

  3. keeptalkinggreece

    Ithink there is no connection

  4. keeptalkinggreece

    we will still need to eat in the at least 10 years needed to get money from oil resources. or we should lay us in deep-freeze?

  5. oil resources in 5000 meter deep libyan sea isn’t proven as long as one dives that deep. leaving euro will be a desaster with 35% jobless and shut down businesses that have to import resources to produce. only tourism could profit a bit and of course american tourists. every leave euro blabla was don join euro before.