Two Out Of Three Greek Youths Will Be Out Of Work For At Least Another Year

Nearly 65% of Greek youths are out of a job.

Just five years ago, at the start of the recession, that figure was sitting at a moderately acceptable 20% for 15-24 year olds, but a recent sharp rise has shown teens to be the hardest hit by harsh austerity measures.

Across the board, unemployment in Greece has climbed to a record high of 27.6 per cent, more than double the euro zone average of 12 per cent.

Source: Reuters

That means nearly 1.4 million Greeks are out of work and the pain isn’t expected to ease any time soon.

Central bank projections point to the overall unemployment rate hitting 28 per cent and no relief in sight until at least 2015.

Until then, the only positive sign for the beleagured nation is tourism, with revenues expected to increase by 10 per cent to €11 billion in 2013.

About one in five Greek jobs are in the tourism sector.

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