Unemployment reached 18.4% in the month of August breaking the ‘barrier’ of 900K. According to data released by the Greek Statistics Authority (ELSTAT) 90,000 people lost their job last August. the total number of unemployed Greeks is 907.953. The news is more than shocking, then the summer months consider as a chance for jobs due to seasonal hiring. However in times of deep recession many shops and enterprises were ‘forced’ to close for ‘vacations’ and never opened again.
In the youth, ages 15-24, unemployment reached 43.5%, The area most hit by unemployment is Western Macedonia with 23.1%.
The number of economically active Greeks is 4.034.537 people, the number of not-economically active Greeks is 4.403.503 people. In comparison to August 2010 the number of unemployed rose at +48.1%.
The number of Greeks without job is expected to increase as the law of ‘labour reserve’ will be in effect by November 27th. Employees at the public sector (incl. state-run enterprises) will be sent home with 60% of their salaries for 12 months. after this period of time, they will join the club of jobless.