One in five officially unemployed!

A few hours before the completion of the PSI and despite the encouraging signs for the successful completion of the haircut, the harsh reality is reflected in the rates of unemployment that are overshadowing the social landscape of the country.

According to data released today by EL.STAT., the unemployment rate reached a new record high of 21% in December 2011, from 14.8% in December 2010 and 20.9% in November 2011.

The unemployed increased by 299,862 persons compared to December 2010 (+40.9%) and 3,920 compared to November 2011 (+0.38%), and now stand at 1,033,507 persons.

During the same month, the employed decreased by 334,445 persons compared to December 2010 (-7.9%) and 1,950 persons compared to November 2011 (00.05%), and are estimated at 3,899,319 people.

The economically inactive, i.e. people who are not employed or looking for work, increased by 71,414 persons compared to December 2010 (+1.6%) and 905 persons compared to November 2011 (+0.02% ). According to EL.STAT. they have reached 4,424,562 persons.