Greek youth unemployment now over 60%

This video says about itself:

Feb 4, 2013

Almost 6 million citizens are jobless as unemployment in Spain rises 2.7%.

The Greek New Democracy-led coalition government signed a civil mobilisation order Saturday in order to outlaw a teachers strike, scheduled to begin on May 17: here.

Some teachers wore uniforms of the military junta which had ruled Greece from 1967 to 1974. “They are once again ordering us to wear uniforms,” one woman wrote on a placard. Another placard read: “Today me, tomorrow all of you”. The teachers were drawing parallels to the dictatorship of the colonels that suppressed all labour disputes by force of arms and mobilized young people en masse: here.

From Reuters news agency:

Greek Youth Unemployment Rises Above 60 Percent

05/09/2013 10:32 am EDT

ATHENS – Greek youth unemployment rose above 60 percent for the first time in February, reflecting the pain caused by the country’s crippling recession after years of austerity under its international bailout.

Greece‘s jobless rate has almost tripled since the country’s debt crisis emerged in 2009 and was more than twice the euro zone’s average unemployment reading of 12.1 percent in March.

While the overall unemployment rate rose to 27 percent, according to statistics service data released on Thursday, joblessness among those aged between 15 and 24 jumped to 64.2 percent in February from 59.3 percent in January. Youth unemployment was 54.1 percent in March 2012.

“It is by far the highest youth unemployment rate in the euro zone, highlighting the difficulties young people face in entering the labor market despite government incentives to create jobs,” said economist Nikos Magginas at National Bank.

Athens has lowered the minimum monthly wage for those under 25 years by 32 percent to about 500 euros to entice hiring.

So, obviously that neo-conservative economic nostrum does not work. Errr … maybe it does … the wrong way 🙂

Greece’s economy is in its sixth year of recession, battered by tax hikes and spending cuts demanded by its European Union and International Monetary Fund lenders. The economy is expected to slump by 4.2 to 4.5 percent this year.

The high jobless rate is keeping Greeks pessimistic about their economic prospects.

Greek youth jobless reaches 64.9%: here.

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13 thoughts on “Greek youth unemployment now over 60%

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  2. Thousands of Spanish health workers strike

    Thousands of doctors and nurses took industrial action across the Madrid region, covering 6.5 million people, Tuesday in protest against plans to cut health care funding. The strike shut down all but urgent care in 34 hospitals and dozens of health centres.

    The health workers are planning to hold five one-day strikes every week through early June over the regional governments’ plans to hand control of six public hospitals over to private companies.

    Susana Hernandez, 45, doctor of internal medicine at one of the hospitals on the target list, was quoted in Reuters as saying, “They move the flow of patients to benefit the privatized hospitals, while the companies’ first priority is always profit. We’ve asked for their figures to show how much they’ll save, but their stats show this sale is a bargain (for the companies).”

    An anonymous source at Madrid’s regional government said the 10-year contracts to run the six hospitals would cost the government around €4.6 billion ($6 billion).

    The European Commission has instructed Spain to slash its public budget. Opinion polls show 70 percent of the Spanish population oppose health care privatization.


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