BUSINESS

Path back to work is a tough one for unemployed Greeks

TAGS: Economy

The majority of unemployed Greeks appear to be effectively shut out of the labor market, as only 4.3 percent of those who were jobless during the final quarter of 2015 managed to find employment this year, Eurostat has announced in a report. According to the European Union’s statistical agency, the equivalent eurozone average stood at 15.4 percent of unemployed.

The only countries to post lower figures than Greece were Malta, with 3.1 percent, and Bulgaria, with 3.2 percent.

Labor market experts point out that consistently high levels of unemployment coupled with reduced chances of returning to work have created conditions of social exclusion and poverty.

Levels of long-term unemployment remain high in Greece, experts note. According to Eurostat, the figure in Greece stood at 18 percent at the end of 2015, compared to an average of 4.8 percent across the EU’s 28 members-states.

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