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Greece’s youth unemployment skyrockets at 64% – general rate at 27% in Feb 2013

While Greece’s political leadership cheers the country’s progress and dives in a lake of unexplained optimism, the average Greek sinks deeper in misery. Eleven thousand people lost their jobs within one month – that is 392 people per day. The total number of unemployed to have reached 1,320,189, unemployment has reached a new record with 27% for the month of February 2013.

Among youth 15-24 years old the rates are much worst: 64% of young laborers are without job.

The data were released on Thursday by the Greek Statistics Authorities (ELSTAT) that also revised the data of the previous month. “Unemployment in January 2013 was 26.7% and not 27% as originally announced,” ELSTAT said in a statement.

Unemployed: women 31%, men 24%

Regions with the highest unemployment rates: Attica, Epirus-Western Macedonia, Thessalia-Sterea Ellada,  each 28.7%.

The data refer only to full-time employees and not to self-employed.

It was just a couple of days ago that a Nea Dimocratia lawmaker told the stunned TV audience that “unemployment will sink in the next 6 months.” How much or how, he did not say…


Gov’t in panic

On the same day the devastating unemployment date were released, the Tourism minister, the Labor minister  and the Association of Tourism Businesses announced a special program to create 10,000 work places in tourism industry.

The program refers to jobless youth aged 18-29, with university/technical college degree or just secondary education.

The program includes: 80 hours training, internship of 500 hours, not longer than 5 months.

University/technical college graduates will receive 2,700 euro gross for the whole time of occupation. that is 540 euro gross per month.

Compulsory education graduates will receive 2,400 euro gross, i.e. 480 euro gross per month.

Meanwhile, I receive officially unconfirmed news from tourism regions that hotels and other facilities hire young people primarily from Easter Europe for ‘summer jobs’. Salary is reportedly 350 euro per month, officially part-timers, no insurance.

PS I thought Greece became competitive with lowering the minimum wage for those below 25 years old down to 510 euro gross – and 586 euro gross for those above.

Cheap labor craft: that’s the prosperous future for Greek young and old.

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