EUROSTAT: Greece Leads in Youth Unemployment with 53.8%

Posted by in Economy

Greece leads in youth unemployment with 53.8%, while it occupies the second place after Spain in unemployment in all age groups. According to EUROSTAT, unemployment in Greece reached 23.1% in May 2012, recording an increase of 6.3% compared with May 2011.

This is the second highest rate within the European Union after Spain, which tops the list of 27 member-states with 25.1% (July data). The lowest unemployment rates are in Austria (4.5%), The Netherlands (5.3%), Germany and Luxembourg (each 5.5%).

In July, unemployment reached 11.3% among the euro zone member-states and 10.4% among the EU 10.4%.

Among the youth aged 15-25 years old unemploymentis at 53.7% in Greece and 51.3% in Spain.

I do not know about Spain, but even those Greek youth that are lucky enough to get a job, what they mostly get is part-time for 200-250 euro per month and thus without social security and medical insurance. Furthermore, part-timers have no right to jobless allowance or other labour rights whatsoever.

Hire, Pay Peanuts and Kick Out. Nice perspective for the country’s youth. No wonder many kiss Goodbye their parents and friends and leave the country.