Unemployement in Greece

What is unemployement Unemployment is a phenomenon that occurs when a person who is actively searching for employment is unable to find work. Unemployment is often used as a measure of the health of the economy The unemployment rate, is the number of unemployed people divided by the number of people in the labor force.

Types of unemployment Structural Unemployment  the mismatch of jobs and workers due to the lack of skills or simply the wrong area desired for work. Frictional Unemployment temporary transitions made by workers and employers or from workers and employers having inconsistent or incomplete information Cyclical Unemployment that is attributed to economic contraction - recession is called cyclical unemployment. 

Employed, unemployed, economically non-active and unemployment rate: October 2009-2014

Unemployment rate by age groups from October 2008 to October 2013.

The unemployment rate by age groups from

The unemployment rates in European Union

Unemployment rates from 2000 to 2016

High youth unemployment Greece 50.3% Spain 43.9% Italy 39.2% Croatia 29.5%

Unemployment consequences Depression Loneliness-Stress Dramatic increase of suicides Lack of Concentration Loss of Finance Security and Reduced Disposable Income Health problems Negative effects on children

Society – Economy consequences Brain drain , 19.4% graduates unemployed , Spain is following with 14.9% Rise in criminality Increase in debts Reduction in consumer expenditure

Ways of dealing with unemployment Provision of work proposals Time-limited unemployment benefits Decentralisation of collective bargaining Increase labor supply

Conclusion When Greek economic crisis started in 2009 no one expected its duration and dramatic consequences. The most important of them is the tremendous rise in unemployment rate In June 2016 unemployment rate it was 23.4 % Youth unemployment rate was 47.7 %