Job Market Monitor
Greece
(UPDATE) Greece – No to additional 22,000 layoffs asked by IMF
Greece / Rejecting IMF demand for 22,000 extra layoffs Greece has rejected a last-minute IMF demand for thousands of additional civil service layoffs, a finance ministry source said on Tuesday ahead of a crucial eurozone meeting to debate loan relief for Athens. The global lender on Monday called for 22,000 extra job cuts by 2014 … Continue reading
Greece – Rumors that the country’s troika of foreign lenders had called for an additional 22,000 layoffs
Government sources on Monday refuted reports that the country’s troika of foreign lenders had called for an additional 22,000 layoffs in the public sector next year even as municipal employees continued sitins at hundreds of city halls and municipal services across the country to protest their inclusion in a fast-track scheme to redundancy. The demand … Continue reading
Greece / Economy shrinks further: Bad news for jobs
The Greek economy shrank 7.2% in the third quarter compared with the same period a year earlier, statistics agency Elstat has said. That was a deeper contraction than the 6.3% fall seen in the second quarter. Greece has been in recession since late 2008 and has been granted two bailouts from the European Union and … Continue reading
Greece | Unemployment hits a new record at 25.4 pc, youth hits 58pc
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
Austerity – Greece debt to GDP to hit 190pc
Greece’s debt to GDP will hit 189.1pc and the economy is expected to contract by 4.5pc next year, the finance minister revealed in the 2013 budget presented to parliament. via Debt crisis: Greece debt to GDP to hit 190pc – Live – Telegraph.
Greece – The biggest cumulative loss of output of a developed-country economy in at least three decades
Greece is spiraling into the kind of decline the U.S. and Germany endured during the Great Depression, showing the scale of the challenge involved in attempting to regain competitiveness through austerity. The economy shrank 18.4 percent in the past four years and the International Monetary Fund forecasts it will contract another 4 percent in 2013 … Continue reading
Greece – Underground Economy Grows. Is there a link with the Euro crisis ?
Greece does not have the means to police its underground economy, which is considered very large compared to the size of the country. Austerity measures that cut the size of government will make enforcement of tax laws even more difficult. That is too bad because there is a lot of money to be had if only Greece could get cash … Continue reading
US unemployment rate is bad, eurozone is worse and Greece leads in youth unemployment (53.8%)
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
Greece – 794,924 officially registered as unemployed @ state employment agency OAED
The number of people officially registered as unemployed increased by 1.59 percent in July, the state employment agency OAED announced. The agency recorded 794,924 people as jobless in July, six out of ten of whom are in the 30 to 54 year-old age bracket and 92.5 percent of whom are Greek nationals… via Unemployment register … Continue reading
Greece – Unemployment Hits New Record High of 23.1 percent In May
Unemployment in Greece increased further and reached a new record high in May, as the labor market continues to be hit by the deepening recession, data released by the Hellenic Statistical Authority showed Thursday. The unemployment rate increased to 23.1 percent in May from the revised 22.6 percent in June, reaching the highest level since … Continue reading
Greece – In Great Depression PM says
Greece is in a “Great Depression” similar to the American one in the 1930s, the country’s Prime Minister Antonis Samaras told former U.S. President Bill Clinton on Sunday. Samaras was speaking two days before a team of Greece’s international lenders arrive in Athens to push for further cuts needed for the debt-laden country to qualify … Continue reading
Official youth unemployment – The Scariest Chart
In March this year, for the first time on record, more than half of the young people in Spain and Greece were counted as unemployed by the OECD, which provided the chart above. Three months later, the situation is still getting worse. Official youth unemployment in Greece and Spain has crossed 51 percent. That’s worse … Continue reading
Greece and Germany: Ex-East residents resent paying for
Germany may be Europe’s most powerful economy. But its prosperity is so uneven that Poles just across the border see it differently: as a place where housing is a bargain. Fueled by an economic boom in their own country, Poles have been spilling into the former East Germany, still one of the poorest parts of … Continue reading
When 50 per cent youth unemployment is (apparently) protecting the grand kids
Over the last week, a Londoner and a Glaswegian have publicly embarrassed themselves with statements made about the current economic situation. One is an academic historian who hasn’t fully understood history. The other a politician who is seeking to deny the obvious and somehow blur his own culpability in driving the British economy back into … Continue reading
In The News | The Job Stall on the Verge of Another Recession, Germany’s skilled worker shortage, Layoffs, Greece and More
Joblessness Rises: Are We on the Verge of Another Recession? | Economy alternet.org – The White House must be telling itself there are still five months between now and Election Day, so the jobs picture could brighten. After all, we went through a similar mid-year slump in 2011 but… JobMarketMon Why the U.S. economy is … Continue reading
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