bacpacker
03-14-2013, 10:46 PM
Here is another story on the decline of Greece. This time they country has passed a full 25% of the population is unemployed. I don't know if Greece adjust it's data like the US does, but either way that is a huge number of folks out of work.
http://hosted.ap.org/dynamic/stories/E/EU_GREECE_FINANCIAL_CRISIS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-03-14-06-44-48
Greek unemployment reaches record 26 percent
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ATHENS, Greece (AP) -- Unemployment in debt-crippled Greece rose to a record of 26 percent in the last quarter of 2012, as austerity measures combined with a deep recession took a harsh toll on the workforce.
The figures were worse than the previous quarter's 24.8 percent, and 20.7 percent a year earlier.
The national statistical authority said Thursday that 1.29 million people were out of a job in October-December 2012. In the under 25 age group, unemployment was 57.8 percent.
The rate for women was 29.7 percent, compared with 23.3 percent for men.
Greece's economy has been falling apart over the past three years, savaged by its financial crisis. The country is surviving on international rescue loans, released on condition it keeps up a tough program of spending cuts and tax hikes.
http://hosted.ap.org/dynamic/stories/E/EU_GREECE_FINANCIAL_CRISIS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-03-14-06-44-48
Greek unemployment reaches record 26 percent
Business Video
Buy AP Photo Reprints
Photo Gallery
Violent protests in Greece
Interactives
Greece's Debt Threatens to Spread
State budget
gaps map
Auto industry problems trickle down, punish Tennessee county
Women give old Derby hats a makeover in tough economy
S.C. town deals with highest unemployment in South
How mortgages were bundled and sold as securities
Tracking the $700 billion financial bailout
Tracking the year's job losses
State-by-state foreclosures since 2007
Credit crisis explained
Presidents and their economic legacies
Lexicon of the financial crisis
Americans' addiction to debt
ATHENS, Greece (AP) -- Unemployment in debt-crippled Greece rose to a record of 26 percent in the last quarter of 2012, as austerity measures combined with a deep recession took a harsh toll on the workforce.
The figures were worse than the previous quarter's 24.8 percent, and 20.7 percent a year earlier.
The national statistical authority said Thursday that 1.29 million people were out of a job in October-December 2012. In the under 25 age group, unemployment was 57.8 percent.
The rate for women was 29.7 percent, compared with 23.3 percent for men.
Greece's economy has been falling apart over the past three years, savaged by its financial crisis. The country is surviving on international rescue loans, released on condition it keeps up a tough program of spending cuts and tax hikes.