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Unemployment hits 16% – 220K Greeks lost their job within a year

Recession is raging and unemployment is galloping reaching almost 16%. According to Greek Statistical Authority unemployment reached 15,9% in February after 89,000 jobs went lost within a month period. Within a year 220,000 work places vanished in the austerity atmospheric level. 

Most hit by unemployment are ages 15-24, where 40% of these people are without a job that is 4 out of 10. In the ages 25-34 the rate is 19,9%.

 Women are without job at 19% (15,3% in Feb 2010) and men 13,5% (9,8% in Feb 2010).

Most hit regions is West Macedonia (23,9%), Ionian Islands (22,4%) and South Aegean (32,7%).

In comparison the genenal unemployment rate was at 12,1% in February 2010 and 15,1% in January 2011.

In the months June to September unemployment may drop due to seasonal job opportunities in tourism. However seasonal work is to 60% without insurance, meaning also no unemployment benefits after the contract is over.

In the unemployment data are not included the long-term unemployed and the unemployed self-employed. Not to mention the hundreds thousands of family members without income after at least a member lost his/her job.

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    • keeptalkinggreece

      good video explaining austerity and teaching economic terminology in English! thanks 🙂