Greece in IMF: 700K People With Zero-Income, 23.6% Unemployment in Q2/12, 700K With Zero-Income

Posted by in Economy, Society

One in five Greeks in best productive age are without work. 700,000 long-term jobless are without income as the unemployment allowance runs only for 12 months. Since last year, 1,000 people lose their work place and source of income – on a daily basis. these are the latest date published by Greek Statistics Authority (ELSTAT) for the second quarter of the current year, from April to June,  in the IMF-salvation and recession year 2012.

Unemployment climbed at 23.6%. In comparison 22.6% in first Quarter of 2012 and 16.3% in second quarter of 2011. The number of unemployed  is 1,168,761 people, while the number of employed is 3,793,147.

Among youth in the age group 15-24, unemployment is at 53.9%. Especially hit are young women without a job at 62.1%. The most productive age 25-29 is hit at 36.8%.

Th number of long-term jobless, i.e. more than 12 months without job, makes 59% in the total number of unemployed.

Those entering the labour market for the first time are unemployed at 23.3% of the total of jobless.

Among foreign nationals, unemployment is 32% (Greeks at 22.7%).

At regional levels, Western Macedonia leads with 30%, followed by Central Greece with 28.4% .

PS I wonder, if unemployment in the North of the country has to do with the fact that factories were relocated to neighboring Bulgaria…