Greece: 25.7% unemployment in September

Greece: 25.7% unemployment in September

Athens, December 12, 2014/ Independent Balkan News Agency

By Spiros Sideris

Unemployment remains in worryingly high levels, standing in September at 25.7%, acconding to the Hellenic Statistical Authority (EL.STAT.). Although the unemployment rate has dropped slightly from 26% in August, it shows that the deceleration of unemployment takes place at such a slow pace that if nothing changes, for it to be restored to sustainable levels it will require several years.

The number of unemployed amounted to 1,241,114 people, and the fact that the total employed people is still less than the total of those who do not work sustains fears of a social collapse. Especially when youth unemployment persists at 50%.

Unemployment had reached a record level of 28% in September 2013, after which time it began to decline. However, it remains more than double the unemployment in the eurozone, which stands at 11.5%.