The number youths aged between 15 and 24 out of work in October rose to 56.6pc, compared with 22.1pc in the same month four years ago, statistics service ELSTAT said.
Greece’s jobless rate has almost tripled since September 2009 as the country’s debt crisis emerged, and is more than double the average rate in the 17-nation euro zone, which stood at 11.8pc in November.
A record 1.34 million Greeks were without work in October, up 38pc from the same month in 2011, with another 36,219 lost after September when the jobless rate stood at 26.2pc.
Austerity policies imposed by the bailed-out country’s international lenders to shore up public finances have taken a toll on the battered economy, which was shrinking at an annualised rate of nearly 7pc in the third quarter.
Choosen excerpts by Job Market Monitor from
Every month unemployment in Greece breaks a new record! According dat released by Greek Statistics Authority (ELSTAT) for September 2012: unemployment reached 26%, while the data for youth 15-24 years old skyrocketed to 56% – despite the lowering of the minimum wage for this age group down to 510 euro gross per month. Officially, at … Continue reading »
Greece’s jobless rate rose for a 39th consecutive month to a new record of 25.4 percent in August, more than double the euro zone average, Greece’s statistics service ELSTAT said on Thursday. A crippling, austerity-fuelled recession continued to take its toll on the labor market, putting Greek unemployment at more than double the euro zone … Continue reading »
“There are many reasons for youth unemployment: besides the general situation on the labour market, one might mention education and training systems, labour market and employment policies, but also the stratification and distribution of opportunities in society” write JOERG BERGSTERMANN AND BJOERN HACKER in Youth Unemployment in Europe on social-europe.eu. As things stand at the moment, the … Continue reading »
Europe’s young people are suffering disproportionately in the economic crisis and we must do more to prevent them from becoming ‘a lost generation’ – says think-tank Youth unemployment rates in some European Union countries are scandalously high. Many member states are hoping to copy the success of the German apprenticeship system. Although nations should be encouraged to … Continue reading »
Euro area unemployment rate at 11.3% EU27 at 10.4%. The euro area (EA17) seasonally-adjusted unemployment rate was 11.3% in July 2012, stable compared with June. It was 10.1% in July 2011. The EU27 unemployment rate was 10.4% in July 2012, also stable compared with June. It was 9.6% in July 2011. Eurostat estimates that 25.254 million men and women in the EU27, of …Continue reading »
The unemployment rate among Spain’s under-25s rose to 50.5pc in January, and to 50.4pc in Greece in December, according to the latest available data from Eurostat, the European Union’s statistics office. It compared with an average eurozone youth unemployment rate of 21.6pc. One of the lowest rates of youth unemployment is in Germany, where it … Continue reading »
It doesn’t take a degree in economics to know that unemployment hurts an economy. Would-be workers spend less because they earn less (or nothing), and a country’s financial workings and GDP suffer as a result. That much is easy to see, but many of unemployment’s effects can’t be predicted by textbooks, like the full extent … Continue reading »
EU member states should guarantee that young Europeans do not remain out of work or education for more than four months, according to a scheme unveiled Wednesday by the European Commission. However the cost of tackling youth unemployment would largely fall to the states, said EU Employment Commissioner Laszlo Andor, adding that “the costs of … Continue reading »
“Youth unemployment was rising since well before the current economic downturn, but the fallout from the financial crisis has brought it to the top of the government’s agenda and generated a plethora of publications and initiatives to tackle the problem.” write Tess Lanning and Katerina Rudiger in Youth unemployment in Europe: lessons for the UK (Adapted choosen excerpts by …Continue reading »
The euro area (EA17) seasonally-adjusted unemployment rate was 11.7% in October 2012, up from 11.6% in September. The EU27 unemployment rate was 10.7% in October 2012, up from 10.6% in September. In both zones, rates have risen markedly compared with October 2011, when they were 10.4% and 9.9% respectively. Eurostat estimates that 25.913 million men and women in the … Continue reading »
Youth Unemployment | More severe in countries in which vocational preparation takes place in full-time schools
“Young graduates and early school leavers entering the labour market are a population at risk. They are exposed to above-average turnover rates between different jobs and face an increased risk of unemployment. “ write Marc Piopiunik and Paul Ryan in Improving the transition between education/training and the labour market: What can we learn from various … Continue reading »