Home > The Economy > Greece’s unemployment rate May 2011 to May 2013

Greece’s unemployment rate May 2011 to May 2013

from David Ruccio

Greece-unemployment-May13

Greece’s jobless rate hit a new record high of 27.6 percent in May, as the country continues to stagger under Draconian austerity measures. 

According to the Hellenic Statistical Authority [pdf], unemployment rose from an upwardly revised 27.0 percent reading in April, and was more than twice the average rate in the euro zone which stood at 12.1 percent in June. The latest reading was the highest since ELSTAT began publishing monthly jobless data in 2006.

The new data showed that those aged 15 to 24 remained the hardest hit, as the unemployment rate for this age group registered an all-time high of 64.9 percent.

Since 2008, the unemployment rate has risen from 7.3 percent to 27.6 percent, while the number of unemployed workers has grown from about 357 thousand to almost 1.4 million.

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