Thursday Jul 24, 2014 Search
Weather | Athens
31o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greek youth unemployment highest in eurozone, latest Eurostat data shows

Greece has the highest youth unemployment rate in the eurozone and the second highest overall jobless rate, according to the figures for August published by Eurostat on Monday.

Unemployment in Greece reached 24.4 percent, only second to Spain with 25.1 percent. The jobless rate among under 25s reached 55.4 percent, just above Spain at 52.9 percent.

Germany's rate was 5.5 percent, with neighbouring Austria recording the lowest at 4.5 percent.

Unemployment across the 17 euro area countries remained at its record high of 11.4 percent in August.

The 18,196,000 headline jobless figure for August released by Eurostat was the highest since records began in 1995 and equated to a massive jump of 2,144,000 in the last 12 months.

Greece's unemployment rate rose from 17.2 percent to 24.4 percent during taht time.

In a statement, Eurostat said the August unemployment rate of 11.4 percent was «stable» compared to July, with just a 34,000 increase.

However, the July figures had been revised up to add 160,000 to the jobless count for the month, giving the same 11.4 percent unemployment rate, a Eurostat spokesman confirmed.

The eurozone is faring far worse than its main international economic rivals. Japan's unemployment rate was 4.1 percent in August according to Eurostat, which uses complicated data modelling to draw comparisons, while the United States was at 8.1 percent.

The eurozone also suffered more relative to the 27-state EU single market, which includes Britain and Poland.

"Compared with August 2011, unemployment rose by 2.170 million in the EU 27 and by 2.144 million in the euro area,» Eurostat said

Europe’s firms are postponing investment decisions and hiring on the back of a looming recession, austerity measures across the region and slowing global growth. The subdued economic outlook has prompted French and German companies including Deutsche Bank AG, PSA Peugeot Citroen and Air France- KLM Group to cut thousands from their payrolls.

“There is simply not enough growth in the euro region to create sufficient jobs and the unemployment rate still has not reached its peak,” Thomas Costerg, an economist at Standard Chartered Bank in London, said before today’s report.

“A worrying trend is that the number of unemployed is now also expanding in core countries like Germany, which had been rather sheltered up to now.”

[Kathimerini & agencies]

ekathimerini.com , Monday October 1, 2012 (13:03)  
No property transactions for tax evaders
IOBE warns crisis will return if reforms are not implemented
Aegean has expressed an interest in Cyprus Airways
‘Stop tax dodging to lower taxes’
Policeman saves bather in western Greece
A policeman on Wednesday saved a 75-year-old bather who had become stranded some 300 meters out to sea in western Greece. Other bathers at the beach in Vonitsa called police when they spotte...
Gov´t leaders try to ease tensions over evaluation
Prime Minister Antonis Samaras and PASOK chief Evangelos Venizelos are on Thursday expected to discuss a rift that has appeared within the government over an evaluation scheme for civil serv...
Inside News
TRACK & FIELD
Athens, the Marathon capital of the world for good
Paco Borao, the man who restored Athens as the Marathon capital of the world with the establishment at the Olympic Sports Center of the headquarters of the International Association of Marat...
TRACK & FIELD
Pole vault record on same day as three doping cases
Greek track and field had a mixed weekend, as on the same day as Katerina Stefanidi matched the national record in pole vault as well as the leading result in Europe so far this season, thre...
Inside Sports
COMMENTARY
Front-line threats
Ongoing developments in the country’s broader neighborhood are creating new challenges as well as threats in terms of the country’s interests. While the Middle East is turning into a big bla...
EDITORIAL
Testing behavior
No country is capable of functioning properly without having an elementary evaluation system in place to assess its public sector employees. In Greece, a country where the lowest common deno...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. No property transactions for tax evaders
2. IOBE warns crisis will return if reforms are not implemented
3. Aegean has expressed an interest in Cyprus Airways
4. ‘Stop tax dodging to lower taxes’
5. Index up but some banks take a beating
6. Policeman saves bather in western Greece
more news
Today
This Week
1. Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
2. Front-line threats
3. EU praises Greece’s progress in departure from troika criticism
4. Testing behavior
5. Parts of Thessaloniki university campus sealed off as police investigate bomb threat
6. Police release new photos of fugitive Roupa
Today
This Week
1. The cost of excellence
2. Ex-Credit Suisse banker taps lesson for Greek rebound
3. Greece seen in third bailout as bonds not enough, economists say
4. Climber dies in Mount Olympus fall
5. Greek banks able to tap investors after stress tests, HFSF Says
6. Greek sovereign debt at 174.1 percent of GDP in first quarter
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.