The fear of unemployment in Greece

by Vassilis Kokiopoulos

According to the latest report of the Hellenic Statistical Authority, the unemployment rate in Greece reaches 25% of the economically active population, with about 1.200.000 unemployed. These figures seem terrifying if we consider the “soft” definition of the employed, according to which the survey is conducted. Unemployment is now something that concerns the total of the population as, according to recent research, 1 out of 2 households states that it has at least one member looking for a job. This means that over 2.000.000 Greeks are seeking employment and almost half of the Greek people have a member of their family (if it’s not themselves) looking for work.

Moreover, the fear of unemployment is visible in the total of the employed people. To be more precise, dismissals of civil servants are always on the agenda. People with their own business seem to shut down their businesses one by one. Finally, regarding private employees, research shows that less than 1 out of 10 people consider as unlikely to lose their job within the next 12 months, while 6 out of 10 think of this possibility as very probable.