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Wednesday, February 20, 2013
Greek Unemployment will soon reach 30 percent
begin partial quote: "According to government statistics, the unemployment rate hit 27 percent this past November and registered a staggering 61 percent
among those aged under 24 years of age with 1,350,181 Greeks officially
registered as being unable to find work. Unbelievably, however,
according to calculations by labor specialist George Romanias, the
unemployment rate will soon surpass the 30 percent threshold, rising to
some 2.3 million by the end of 2013. According to a report by the
European Union's statistics agency, Eurostat, one-third of Greece's citizens are considered to be below the poverty level with another 27.7 percent on the brink of poverty or social exclusion. The Greek economy has already contracted by more than 20 percent and predictions are that GDP will have shrunk by more than a quarter by 2014."
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