Greece, Champions of Unemployment

Eurostat’s data on unemployment in the EU show the nightmarish dimensions of Greek unemployment and revealed that unemployment in Greece went even more south in November 2013. The Greek unemployment rates for young people and females remain the highest in the European Union. In November, the total unemployment rate rose to 28 percent. This rate is the highest in the EU while in individual categories the unemployment rate for men was 24.9 percent, for women 32.2 percent and for young people under the age of 25, rose to 59 percent. Indeed, the three countries which recorded the highest increase in unemployment within one year are Cyprus (from 14.4 to 16.8 percent), Greece (from 26.3 to 28 percent) and Croatia (from 17.4 to 18.8 percent). Data concerning January 2014 revealed that in the eurozone, unemployment remained at 12 percent since October 2013, while EU unemployment also remained unchanged at 10.8 percent. In January, the EU had 26.231 million unemployed, 19.175 of which were in the eurozone. In the same month, the number of unemployed under the age of 25 came up to 5.556 million people, 3.539 million of which came from the Eurozone countries. The highest rates of youth unemployment were recorded in Greece (59 percent) and Spain (55.3 percent) while the lowest were recorded in Germany (7.7 percent) and Austria 9.7 percent).

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