BUSINESS

Jobless figures continue to rise at an alarming rate

Unemployment in Greece is going from bad to worse, as official figures released by the Hellenic Statistical Authority (ELSTAT) on Thursday showed a 44 percent increase in the number of jobless in this year?s second quarter compared to the same period in 2011.

The April-June rate stood at 23.6 percent, against 22.6 percent in the year?s first quarter and 16.3 percent in the second quarter of 2011.

What is even more worrying is the increase in the rate of the long-term unemployed (those who have been out of work for over a year) among the total jobless, which has jumped to 59 percent.

The proportion of the so-called new unemployed -- i.e. those entering the job market in search of their first position -- is 23.3 percent of the total.

Almost one in every three foreigners in Greece are without a job (32.5 percent), while for Greeks the rate stands at 22.7 percent. Just over 71 percent of foreigners are economically active, which is far above the 51.7 percent rate for Greek people.

Notably, the portion of salary workers in Greece (63.2 percent) remains far below the European Union average (80 percent).

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