Unemployment in Greece continues on its upward trajectory, escalating to a record high of 28% in November.
For the country’s young people under the age of 25, the rate hit 61.4%.
These government statistics point to an unhealthy, even dangerous situation. They are the highest rates in all 28 EU member states.
The average jobless rate across the eurozone is 12%, leaving 19 million people without work. More than 1.38 million of them are in Greece.
The Greek economy has diminished by a quarter over the last four years and unemployment has mounted since. At the time of the country’s first bailout in May 2010, the jobless rate was less than 12%.
Before the crash Greece was growing at up to 5% annually with about 50,000 jobs a year being created.
Some analysts point to small signs of some recovery. Economic figures, such as retail sales, industrial activity and construction, indicate that the recession is beginning to ebb away.
But observers fear that even with realistic recovery, the jobless rate could rise still further until employers feel confident enough to begin to hire.
