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March 24, 2011

Unemployment in Greece could go to 16.5% in 2011

From Kathimerini article:

"The country's unemployment rate could jump to 16.5 percent by the end of the year if negative labor market trends in the last quarter of 2010 continue, according to the Bank of Greece.

Bank of Greece economist Isaac Sabethai told a conference on Tuesday that this could be prevented by the right mix of reforms being introduced into the economy, which is in its third year of recession.

...Greece’s total jobless numbered 712,065 people at the end of last year while the working population amounts to about 4.2 million people."

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