Friday , April 19 2019
Home / News / Society / Greece’s success story: unemployment new record 27.6%

Greece’s success story: unemployment new record 27.6%

Unemployment in Greece hit a new record in May with 27.6%   just a month after Prime Minister Samaras had launched his ‘ “success story” campaign. The sheer horror is among the youth aged  15-24 :  unemployment has reached 64.5%.

Total number of unemployed: 1,381,088

General unemployment

27.6% in May 2013 – 27% in April 2013 – 23.8% in May 2012

Youth unemployment ages 15-24:

64.9% in May 2013 – 55.1% in May 2012

Regions with highest unemployment:

Epirus-Western Macedonia 30.5%

Attica 28.6

Macedonia-Thrace 28.1%

The data released by Greek statistics Authority (ELSTAT) for May 2013include only the data of employees. Self-employed who become jobless after closing down shops and businesses are not included in the Greek unemployment reality.

Research institute of private sector union GSEE had predicted that unemployment would reach 30% by the end of the year. GSEE’s prediction did not include the wave of lay-offs in the public sector, when some 15,000 people are expected to lose their jobs by end of 2014.

Not even lowering the minimum wage down to 480 euro gross for those below 25 years old and down to 580 euro gross for those above this age could manage to combat unemployment.

Because: not matter how “competitive” Greece is in terms of wages, there can be no growth and development in an unstable tax environment with continuously increasing corporate taxes. There can be no growth and unemployment when the purchase power is continuously decreasing, where there lack of liquidity while banks demand all your assets as guaranty for even small business loans.

“Success story” = big FAIL

 

 

 

 

Check Also

Death toll of victims of mosquito-transmitted West Nile virus rises to 27

Five people died during the last week from complication of the West Nile infection increasing …

8 comments

  1. The great exodus of 2012-14 has already begun.

  2. Really sad…..the unemployment figures are not the reality…reality is not having no money for food ,electricity and water.Soon no house to live in due to high property tax and bank foreclosures….who are they kidding are they living in a different country? Can’t they see that the people are suffering with no hope and all dignity lost?
    THEY AND EUROPE HAVE TO WAKE UP AND SEE THE TRUTH –
    THE PEOPLE ARE PAYING FOR THEIR CORRUPTION AND THEIR GOOD LIFE.

    I am so disgusted with what is happening to his beautiful country and it’s people. GOD HELP US ALL !!!!!

    • keeptalkinggreece

      they see nothing because it’s not in their mission.

    • The Antonis Samaras Flying Circus is bringing its new show to a world audience. Build around its latest illusion, “The Greek Recovery”, the show seems to be receiving some recognition for the intricacy of the trickery involved in the performance. Despite this, audiences at home remain most sceptical, suspecting this recognition is in fact part of the illusion.
      The performances depend on perfect timing by support staff at home base, which are constantly hindered by logistic failures and succeed only in repeatedly shattering the ultimate illusion the circus hopes to create. The many promises of an improved performance have so far failed to materialize, and serious questions about the viability of the illusion must now be asked. There are even some suggestions that the core mistakes are embedded in the very script trying to generate the illusion…

  3. Obama fan South Africa

    I think it great that Obama and Greece on same page. All the best to Greece and with US HELP YOU can get strong and fiscal health again, saga po Ellada

    • Just a crying shame it ain’t the page the Greek people are on, and not particularly by choice either…