Unemployment in Greece Breaks New Record: 24.4% in June 2012, 1:4 Without Job & Income

Posted by in Economy, Society

Unemployment in Greece broke another record in June reaching 24.4%. In comparison: 17.2% in June 2011 and 23.5% in May 2012. More than 50,000 people lost their jobs within one month, which translates that almost 1,200 working places were lost per day. And this during the summer period, when traditionally the market would offer vacancies in the tourism and agricultural sectors.

 According to Greek statistics Authority ELSTAT, the number of unemployed went up to 1,216,410 people, while the number of employed is 3,766,415 people. Economical not active, i.e. people who do not work neither seek for work are 3,372,097.

Men are without job at 21.7% and women at 28.1%.

To the numbers of unemployed, self-employed are not included.

Unemployment allowance of 360 euro is being paid only for maximal 12 months, independently of working years and depending on how many days the unemployed had worked.

150,000 temporary employees in the tourism sector are expected to lose the 450 euro/month unemployment allowance as of winter 2013.

At the same time, wages in the private sector suffer deliberate cuts, with some friends reporting 8% cuts and other even 25%.

Labor unions estimate, 1,5 million people would be unemployed by the end of the year. They forecast statistics unemployment at 29% and real unemployment at 35% for 2013.

PS. Three shops closed down in my neighborhood in August. At least three families stopped to have income. In two shops, also the families of two employees.  Slowly I suspect that 2012 is the worst year of Greek recession.