Wednesday Jul 23, 2014 Search
Weather | Athens
29o C
22o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Unemployment climbed to 27.8 percent in October

 Fewer than one in every 10 jobless are receiving benefits

By Christina Kopsini

The jobless rate continued to grow in October, amounting to 27.8 percent, from 27.7 percent in September and 26.1 percent a year earlier, Hellenic Statistical Authority (ELSTAT) data showed on Thursday, but equally worrying is the insufficiency of the system to support the unemployed.

The number of jobless in Greece reached 1,387,520 in October, increasing by 85,314 individuals from a year earlier. However, there was a significant slowdown in jobs lost from the previous year, when the newly unemployed had numbered 336,763. On a monthly basis the jobless increased by 1,111.

The unemployment rate among young people aged up to 24 came to 57.9 percent in October. The jobless rate among women reached 32.1 percent, while the region with the biggest problem is that of Epirus and Western Macedonia, with 29.7 percent unemployment.

The financially inactive population continued to grow, coming to 3.36 million people from 3.34 million in October 2012. The number of employed was 3.59 million. The General Confederation of Greek Labor estimates that the number of the financially inactive during 2014 will beat that of the employed by 1.1 million.

Despite Labor Ministry estimates for an increase in the flow of employment, ELSTAT data showed that on a yearly basis, 94,531 jobs were lost up until end-October 2013. The decline is smaller than in previous years, but it does point to a further contraction in the labor market.

Meanwhile, Manpower Organization (OAED) data for November 2013 showed on Thuesday that only 9.5 percent of the unemployed have access to the 12-month benefit for the jobless, which raises serious questions about the states support system. Nearly half of the unemployed (48.68 percent) are classified as long-term i.e. without a job for over 12 months and have therefore stopped receiving any benefits for now.

ekathimerini.com , Thursday Jan 9, 2014 (22:39)  
Number of firms filing for bankruptcy in Greece drops
TAIPED finally finds suitors for Afandou properties
Traders say last weekend proved Sunday opening is pointless
Fight for ADMIE privatization ends
Finance Minister, MPs to finalize overhaul of party funding laws
Finance Minister Gikas Hardouvelis is on Wednesday to meet coalition MPs in a bid to finalize an overhaul of regulations governing the funding of political parties, one of five prior actions...
EU envoy sees clear progress on immigration, asylum
European Home Affairs Commissioner Cecilia Malmstrom on Tuesday expressed satisfaction at the clear progress made by Greece in the areas of migration and asylum while Development Minister ...
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
Unequal after death
The dead are dead and the slain are slain, whether they are Malaysian, Dutch, Palestinian or Israeli, whether they are the innocent victims of a civilian plane that is shot down (we still do...
EDITORIAL
Chinese investment
The relationship between Greece and China has become one of major strategic importance. Beijing threw its support behind Athens during a period when the country was going through particularl...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Number of firms filing for bankruptcy in Greece drops
2. TAIPED finally finds suitors for Afandou properties
3. Traders say last weekend proved Sunday opening is pointless
4. Fight for ADMIE privatization ends
5. Strategy focuses on debt sustainability
6. Minor gains at the end of up-and-down bourse session
more news
Today
This Week
1. Unequal after death
2. Greek sovereign debt at 174.1 percent of GDP in first quarter
3. Chinese investment
4. Greeks getting better at recycling, though still Europe's laggards
5. Shares in Greek renewable energy firm drop in trade debut
6. Piraeus prosecutor investigating use of funds for building renovation
Today
This Week
1. Ex-Credit Suisse banker taps lesson for Greek rebound
2. The cost of excellence
3. Greece seen in third bailout as bonds not enough, economists say
4. Summer storms cause problems in Thessaloniki, spread across the country
5. Climber dies in Mount Olympus fall
6. Greek banks able to tap investors after stress tests, HFSF Says
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.