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Eurostat: 6:10 young Greeks without job, Eurozone unemployment in new record 12.2%

YES! Greece of ‘success story’ tops again the Eurostat list on unemployment. Six out of ten Greeks below 25 years old are without work. Youth unemployment in Greece is at 57.3%, while the situation is equally bad in Spain with 56.5%. Within the eurozone countries the general unemployment has reached 12.2 percent.

The unemployment rate across the 17-country eurozone hit a record 12.2 per cent in September, with about 19.5 million people classed as jobless by the EU data agency Eurostat.

Thursday’s figures showed that the unemployment rate for August had been revised up from 12.0 per cent to 12.2 per cent.

But with an extra 60,000 people registered as unemployed across the single currency area that meant nearly 19.5 million people were listed as out of work.

The seasonally-adjusted figures compare unfavourably with the rate for the United States, given as 7.2 per cent for the same month.

Chronic youth unemployment data showed some 3.5 million people under the age of 25 listed as jobless.

The top German economy had the lowest rate in this category, of 7.7 per cent.

Greece and Spain each recorded around 57 per cent – with non-euro but new European Union entrant Croatia also suffering from similar youth unemployment, according to Eurostat details.

Analysts said the “revising away” in August of previous falls dented hopes of the labour market having bottomed out. (full article here)

Full EUROSTAT report here

Now I know why they wear black

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