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article imageGreek unemployment rises to record high

By Katerina Nikolas     Nov 8, 2012 in World
As Parliament voted to approve yet more biting austerity measures on the Greek people, the latest unemployment statistics were published. Unemployment has now reached a record high.
The latest unemployment statistics released by the Hellenic Statistical Authority (ELSTAT) pertain to August 2012. Focus reported the overall unemployment level reached 25.4 percent, an increase of 38.4 percent since August 2011.
Youth unemployment has soared to a staggering 58 percent. A total of 1,267,595 were registered as unemployed in August.
According to To Vima male unemployment is lower than female unemployment, standing at 22.7 and 29 percent respectively.
Meanwhile workers who retain their jobs face yet more pay cuts from the latest round of austerity measures voted through Parliament today. Additionally many workers continue to work without receiving wages, reluctant to give up a job with little prospect of finding another.
Not all those unemployed are entitled to receive benefits, and those that do can expect to see benefits slashed in the latest measures, which also make it easier for employers to sack workers. Many households are supported by the pensions of aged relatives as the younger generation is unable to find work.
More about Greek unemployment figures, Greek youth unemployment, Greek crisis, Austerity measures
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