Greek youth unemployment highest in eurozone

[Le Socialiste]

According to a new eurostat report:


Greece has the highest youth unemployment rate in the eurozone and the second highest overall jobless rate, according to the figures for August published by Eurostat on Monday.

Unemployment in Greece reached 24.4 percent, only second to Spain with 25.1 percent. The jobless rate among under 25s reached 55.4 percent, just above Spain at 52.9 percent.

Germany's rate was 5.5 percent, with neighbouring Austria recording the lowest at 4.5 percent.

Unemployment across the 17 euro area countries remained at its record high of 11.4 percent in August.

The 18,196,000 headline jobless figure for August released by Eurostat was the highest since records began in 1995 and equated to a massive jump of 2,144,000 in the last 12 months.

Greece's unemployment rate rose from 17.2 percent to 24.4 percent during taht time.

In a statement, Eurostat said the August unemployment rate of 11.4 percent was «stable» compared to July, with just a 34,000 increase.

However, the July figures had been revised up to add 160,000 to the jobless count for the month, giving the same 11.4 percent unemployment rate, a Eurostat spokesman confirmed.

The eurozone is faring far worse than its main international economic rivals. Japan's unemployment rate was 4.1 percent in August according to Eurostat, which uses complicated data modelling to draw comparisons, while the United States was at 8.1 percent.

The eurozone also suffered more relative to the 27-state EU single market, which includes Britain and Poland.

"Compared with August 2011, unemployment rose by 2.170 million in the EU 27 and by 2.144 million in the euro area,» Eurostat said

Europe’s firms are postponing investment decisions and hiring on the back of a looming recession, austerity measures across the region and slowing global growth. The subdued economic outlook has prompted French and German companies including Deutsche Bank AG, PSA Peugeot Citroen and Air France- KLM Group to cut thousands from their payrolls.

“There is simply not enough growth in the euro region to create sufficient jobs and the unemployment rate still has not reached its peak,” Thomas Costerg, an economist at Standard Chartered Bank in London, said before today’s report.

“A worrying trend is that the number of unemployed is now also expanding in core countries like Germany, which had been rather sheltered up to now.”

http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_17197_01/10/2012_463880

[Vladimir Innit Lenin]

Yeah but don't you know that we have to crack down on welfare, cos benefit cheating costs teh UK a whole......£1.2 billion a year.

It's so fucked up how obvious this shit is - nobody's talkign about jobs really, nobody's talking about living conditions, nobody's talkign about housing and homelessness, nobody's talking about the alienation of labour, yet it's a fucking open secret that there's one group in society (The bankers, the politicians, the chief execs) who have the power and more money than they could possibly spend, and jobs for life on this commission or that even after they 'retire'), and then there's another group who struggles to survive, and even when they're genuinely working hard, they're still shat on in some boring job, sacked, docked pay, told they've gotta work longer hours and shit like that.

Maybe we should start emulating the Capitalists' propaganda machine, i'm coming to the conclusion it must be one of the best inventions in history if there ain't been a revolution yet in the midst of this level of economic crisis.

[x-punk]

That really makes for worrying reading. A quarter of the working population and over half of under 25s cannot get the means to support themselves from a job. And what is the govt doing, implementing austerity measures which will likely cut back on welfare, public sector jobs, and also hamper job creation in the private sector as well. This is fucking sick!

[REDSOX]

These levels of unemployment for greek youth are absolutely intolerable and i am surprised that the youth of greece are not fighting back more. At nearly 60% unemployment i am surprised that the youth of greece are not more proactive in demos and strikes. I wish someone could explain to me why in these extreme conditions of poverty and unemployment greek youth are not more up in arms and doing something. Are they blind youth or what!!!

[maskerade]

These levels of unemployment for greek youth are absolutely intolerable and i am surprised that the youth of greece are not fighting back more. At nearly 60% unemployment i am surprised that the youth of greece are not more proactive in demos and strikes. I wish someone could explain to me why in these extreme conditions of poverty and unemployment greek youth are not more up in arms and doing something. Are they blind youth or what!!!

pretty sure that the youth in Greece are among the most radical in the country. a lot of the resistance to what is happening in Greece is conveniently left out of the mainstream media narrative. I have full faith that they are doing everything they see fit in the current circumstances, and that they will seize any revolutionary opportunity that arises.

It's a long uphill battle that has just started, we shouldn't dismiss them so soon!

[Workers-Control-Over-Prod]

According to a new eurostat report:


The jobless rate among under 25s reached 55.4 percent, just above Spain at 52.9 percent.

http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_17197_01/10/2012_463880

Hey! We're already 'over the hill', maybe the lazy Greeks and Spanish can reach 100% and the mighty germans won't have to bother with them anymore!...

those are the dimensions we are beginning to face. I mean, you start talking about over 50% youth unemployment? That is near to genocide.