Greek Unemployment Near 21%
The latest unemployment report for the 17 Eurozone countries revealed that unemployment in Greece hit a record 20.9% in November 2011. Among all Eurozone nations, the unemployment rate rose from 10.3% in October to 10.4% in November. As the country…
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The latest unemployment report for the 17 Eurozone countries revealed that unemployment in Greece hit a record 20.9% in November 2011. Among all Eurozone nations, the unemployment rate rose from 10.3% in October to 10.4% in November.
As the country continues to cut spending and adopt austerity measures in order to satisfy Eurozone conditions for additional bailout help, the employment situation is likely only to get worse. It’s difficult to see how that helps Greeks and the country’s economy get out of the hole they’re in.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
