Details Published on Friday 15 March 2013 03:14 Written by Radical Socialist
Charles-André Udry
There is one “economic” forecast which is unlikely to be proved wrong as far as Greece is concerned: the one regarding unemployment. ELSTAT (the Greek Institute of Statistics) has just published the “results” for October 2012: the official number of unemployed amounted to 1,345,715; an increase of 36,000 in a month. As a reminder, the number of unemployed stood, for the same month of October, in 2007, at 398,085; at 375,528 in 2008; at 498,211 in 2009; at 694,508 in 2010 and 977,614 in 2011. An increase in one year of 368,701.
Ernst & Young “predict” a rate of 28 per cent for late 2013 and the research centre of the private sector union, GSEE, forecasts at least 30 per cent. The rate of unemployment in October 2012 is 56.6 per cent for the 15 to 24 age group. In 2010, it was 34.7 per cent, and 46.7 per cent in 2011. For 25-34 year olds, the evolution is as follows: 34.1 per cent in October 2012; and respectively 27 per cent and 18.9 per cent for the corresponding months of the previous two years.