Another month and another all-time record for Greek unemployment. The number of Greeks not in work has risen to 28.0% in November according to data just released by the Hellenic Statistical Authority (ELSTAT).
The figures are dismal across the board despite previous assertions that the unemployment rate appeared to be stabilizing.
Only between October 2013 and November 2013, the number of employed decreased by 35,726 people. Compared to November 2012 the number of people employed decreased by 112,752.
This is the result of an increase in the number of unemployed individuals (5,598) compared to October 2013, and the number of inactive individuals (those that neither worked nor looked for a job) which increased by 36,448 people in just one month.
According to the most recent data this means that the 3,550,679 individuals that are employed are supporting 1,382,062 unemployed individuals and 3,376,643 inactive individuals. In other words every 3 workers are supporting 4 non-workers.
This increase unemployment was reflected across all age groups. The group most affected by unemployment are the young (15-24) years old of which a whopping 61.4% are unemployed. 38.4% of 25-34 year-olds are also unemployed.
The relevant press release from ELSTAT in english is available here (pdf).
