Unemployment hits new high in Greece, particularly among the young
Post date: Jul 12, 2012 3:54:4 PM
ATHENS, GREECE (JULY 12, 2012) (REUTERS) - New statistics show the unemployment rate in Greece has reached a fresh high of 22.5 per cent, up from 21.9 per cent in March, and up from 16.2 per cent in April 2011. Out of a population of 11 million people, some 1,110,000 people are out of a job, according to figures released by the National Statistics Service on Thursday (July 12).
The number of Greeks out of work rises to a new high, with more than one million people unemployed, as economic reforms take their toll on the economy.
The highest rate was recorded among 15-24 year olds at 51.5 per cent. The next highest category was 25-34 year olds at 29.8 per cent. The highest rates by region were recorded in the northern province of Macedonia and on the island of Crete. In the greater Athens region the unemployment rate stood at 23.4 percent.
Thirty-two year old Filia, an educated jewellery maker has been out of a job for a year and has a 10 month old daughter.
''It's difficult. The parents help, I use my savings that I have put aside,'' she said.
34 year old Michalis lost his job in Athens at a supermarket two years ago. He then went to France and found a job there, but was forced to return to Athens for family reasons and has not been able to find a job since his return a few months ago.
''There is always hope. But in Greece you see how things are, you cannot always save, save, save, that is why we want a united Europe, there has to be a social network, why don't they go chase the people who spent all the money," he said.
Bianca Tampouri, a translator, cannot find work, and her husband and 18 year old daughter are also unemployed.
"I am concerned because I have a problem, my husband has a problem, all my family we all have a problem, so yes I am concerned. About the future, our jobs, our lives, our psychology, you know dignity, everything,'' she said.
The economic reforms imposed by governments since 2010, which have caused a deep recession, have taken a toll on the labour market.
Budget cuts imposed by the EU and the IMF as a condition to save the debt-laden country from a chaotic default have caused a wave of business closures and bankruptcies resulting in job cuts and a sharp drop in consumer spending. Tens of thousands of shops have closed down since the crisis began in 2010.
Greece is now second behind Spain with the largest unemployment rate in the Eurozone and almost twice the average in the 17 nation Eurozone.
The new three party coalition government which came to power on June 17 has vowed to tackle unemployment and will seek to re-negotiate measures in its economic reform program which it says are hurting the economy. The program was devised with the European Union and International Monetary Fund in 2010 in return for two rescue loans. But lenders are wary to re-negotiate as they say reforms in the program have been delayed. The government has said it will speed up reforms but must install more growth measures in the program.