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Greek unemployment could reach 30% this year, says labor expert

Unemployment in Greece, which officially reached 22.5 percent in April, will rise to 30 percent by the end of the year unless action is taken now, one of the countrys leading labor experts claims.

Savas Robolis, economics professor and director of the Labor Institute of the General Confederation of Greek Workers (GSEE-ADEDY), told Skai TV that the current austerity policies in Greece and other eurozone countries would exacerbate unemployment.

The policies that are being followed in Greece and Europe mean it is inevitable that the macroeconomic figures will worsen, he said. In Greece, one employed person covers the costs of caring for an unemployed person or pensioner. This cannot continue.

Robolis estimated that Greeces social security funds are losing 9 billion euros a year due to high unemployment and he expressed concern about a brain drain.

We will remain a country of middle and unspecialized labor and limited growth, said the economist.

ekathimerini.com , Friday Jul 13, 2012 (14:03)  
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