Posts Tagged ‘Greece’
Tags: chart, Europe, Greece, Spain, unemployment, United States, youth
Tags: austerity, Greece, protest, strike, workers
Greek workers have shut down the country today as a demonstration against austerity measures imposed by the government and foreign lenders, whose inspectors were in Athens to review the country’s performance under its bailout.
Tags: Greece, protest, strike, workers
Greek workers shut schools and forced hospitals to operate with only emergency staff today at the start of a 48-hour strike against the latest plans to fire thousands of public sector employees.
Tags: chart, Greece, statistics, unemployment, youth
Greece’s jobless rate hit a new record high of 27.6 percent in May, as the country continues to stagger under Draconian austerity measures.
According to the Hellenic Statistical Authority [pdf], unemployment rose from an upwardly revised 27.0 percent reading in April, and was more than twice the average rate in the euro zone which stood at 12.1 percent in June. The latest reading was the highest since ELSTAT began publishing monthly jobless data in 2006.
The new data showed that those aged 15 to 24 remained the hardest hit, as the unemployment rate for this age group registered an all-time high of 64.9 percent.
Since 2008, the unemployment rate has risen from 7.3 percent to 27.6 percent, while the number of unemployed workers has grown from about 357 thousand to almost 1.4 million.
Tags: austerity, Greece, protest, strike, workers
Tens of thousands of Greek workers walked off the job today and rallied in front of parliament to protest government plans to fire public sector employees in an attempt to satisfy foreign lenders.
The reforms that have most angered the unions are plans to put 25,000 civil servants, including teachers and municipal police officers, into a so-called mobility plan by the end of the year, docking their wages ahead of forced transfers or dismissals. Another 15,000 workers are to be laid off by the end of 2014.
Local government employees have been occupying city buildings this week to protest the changes which, the unions say, will aggravate a deepening recession and add to the ranks of the unemployed who already account for more than 27 percent of the population.
“We will resist all those whose wrongheaded and dead-end choices have led the Greek people into poverty and wretchedness,” said the main private sector labor union, Gsee, which called the action with the civil servants’ union, Adedy.
The unemployment rate in Greece [pdf] climbed to a new record high of 26.9 percent in April (significantly higher than the 23.1 percent registered in April 2012), while the youth jobless rate is now a truly dire 57.5 percent (up from 51.5 percent a year ago)!
Greek workers begin a nationwide strike in protest against the “sudden death” of public broadcaster ERT, which was switched off in the middle of the night by the government.
Tags: austerity, Greece, jobs, unemployment, United States
More times than I can count, I have attempted to explain to students, colleagues, and friends that we’re not on the “road to Greece.”
That’s what they believe: that, because of fiscal deficits and growing public debt, the United States is quickly moving in the direction of Greece. And that disaster awaits.
Well, no, as I’ve explained on this blog many times before. The problem is not growing debt but, instead, the imposition of austerity policies. Austerity is a term we often use to describe the situation in Europe but rarely in the United States. And it’s not clear why. Perhaps because of the Obama administration’s half-hearted stimulus measures. Or because of the oft-cited but barely perceptible recovery.
In any case, there’s a quick and easy way to calculate the effects of austerity in the United States: figure out the average number of government jobs that were created after every recession in the United States going back to 1970 and then add to that the number of government jobs that have been destroyed during the current recovery.
That’s exactly what Michael Greenstone and Adam Looney do. The number they come up with is 2.2 million.
In the forty-six months following the end of the five other recent recessions, government employment increased by an average of 1.7 million. During the current recovery, however, government employment has decreased by more than 500,000. Put together, the policy differences have led to 2.2 million fewer jobs today. Such a large contraction of the public-sector during a recovery is unprecedented in recent American economic history.
Cutting jobs during a period of already high unemployment is austerity—American style.
Tags: Bangladesh, Greece, Indonesia, May Day, protest, Spain, workers
Tags: Euro, Europe, Greece, Spain, unemployment, youth
According to Eurostat, the statistical office of the European Union,
The euro area (EA17) seasonally-adjusted unemployment rate was 12.0% in February 2013, stable compared with January. The EU271 unemployment rate was 10.9%, up from 10.8% in the previous month. In both zones, rates have risen markedly compared with February 2012, when they were 10.9% and 10.2% respectively.
In February 2013, 5.694 million young persons (under 25) were unemployed in the EU27, of whom 3.581 million were in the euro area. Compared with February 2012, youth unemployment rose by 196 000 in the EU27 and by 188 000 in the euro area. In February 2013, the youth unemployment rate was 23.5% in the EU27 and 23.9% in the euro area, compared with 22.5% and 22.3% respectively in February 2012. In February 2013, the lowest rates were observed in Germany (7.7%), Austria (8.9%) and the Netherlands (10.4%), and the highest in Greece (58.4% in December 2012), Spain (55.7%), Portugal (38.2%) and Italy (37.8%).