Greek youth jobless reaches 64.9%

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Greek youth are very angry at the troika and the government’s policies that have created massive unemployment
Greek youth are very angry at the troika and the government’s policies that have created massive unemployment

THE unemployment rate in Greece increased to a record 27.60 per cent in May of 2013, up from 26.90 per cent in April of 2013.

Official figures from the Hellenic Statistical Authority in May recorded astronomical youth unemployment, which rose further to 64.9 per cent of 15-24 year olds.

Both total unemployment and youth unemployment rates in Greece are up to more than twice the eurozone’s figures of 12.1 and 23.3 per cent respectively, reflecting the impact of a six-year austerity-driven recession.

The number of unemployed rose to 1,381,088, an increase of 193,668 compared with May 2012 (up 16.3 per cent), and an increase of 30,558 compared with April 2013 (up 2.3 per cent).

The number of employed was registered at 3,621,153, a decrease of 171,356 compared with May 2012 (a 4.5 per cent rate of decrease), and down 22,815 compared with April 2013 (a 0.6 per cent rate of decrease).

Meanwhile, the Ministry of Administrative Reform is preparing for the next wave of staff ‘suspensions’ and is looking into local government and municipal services for surplus staff.

While the Minister, Kyriakos Mitsotakis, has avoided discussing the subject, Greek media reported on Wednesday that the 90,000 municipal employees are expected to provide the 12,500 suspensions that the government has agreed to with the IMF-EC-ECB troika.