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Greece’s general unemployment still at 26% and 1:2 youth without job

Bang! I thought Greece was making much-heralded fiscal progress and much- applauded primary surpluses in 2014 and the lenders and the ND-PASOK government were congratulating each other for the glorious economic achievements… And then everyone got angry because just when the “country was about to exit the bailout adjustment program and the strict austerity” these evil leftists came into power because the silly average Greek did not appreciate much or at all neither Samaras-Venizelos’ efforts nor Schaeuble -IMF’s austerity and economic drainage.

But how could they? During the whole year 2014, more than one in four Greeks remained without job and income.

Based on Greek Statistic Authority data unemployment was stuck between 26% and 27%. the rates remained high even in the summer months where temporary workers used to get jobs. Traditionally. In older times.

Unemployment 2014 in %

Jan 27.
Feb 27.2
Mar 27.1
Apr 27.1
May 26.8
June 26.
July 26.4
Aug 26.2
Sept 26.0
Oct 25.9
Nov 25.9
Dec 26.0

Today, the ELSTAT data for December 2014 have been released, and Greece’s jobless rate rose to 26 percent. Among the youth 15-24 years old unemployment rate is still dramatically high with 51.2%.

Unemployment remains high despite the many EU-funded programs that provide temporary, up to five months, jobs for maximum 500 euro.

Or exactly because of these programs, jobless rates have been slightly decreased from the horror year 2013 with an average of 27.3%.

ELSTAT records as unemployed only employees but not self-employed or free-lancers.

Worth noting in a state where the welfare has collapsed: only 20% of the 1,233,404 jobless people received December “unemployment allowance” in December. Jobless allowance is €360 per month and is given for the duration of one year independently of  how many years or even decades the jobless has worked before and paid social security contributions.

Greece’s unemployment remained in December more than double the eurozone’s average of 11.3% – despite the much praised economic discovery.

ELSTAT Unemployment December 2014 in pdf.


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One comment

  1. There is no hope for Greece with the current “European program”.

    Find out why here: