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WHOA! Greek Unemploment Soars By 1.5% In One Month, Hits Record 27.2%

WHOA! Greek Unemploment Soars By 1.5% In One Month, Hits Record 27.2%

Submitted by Tyler Durden | 04/11/2013 | 08:13 -0400

BLSBureau of Labor StatisticsGreeceUnemployment

There was much hope in the feudal states of Europe that the monthly December drop in Greek unemployment - the first in years - was the beginning of the end for local misery. Alas, it appears the Greek statistics office leaarned a thing or two from the BLS and it was all seasonal adjustments. As reported earlier today, things just got much worse again, with January unemployment surging by 1.5% in one month to a new all time record high 27.2%. More importantly, the number of employed people in Greece, which dropped to a new record low of 3.617,771 compared to 3,888,400 a year ago (and down 11,653 from December), is now nearly as much as the entire inactive population at 3,346,423 and far below the ranks of the unemployed (1,348,694 - an all time high as well) and inactive.

See graph below

Read more: http://www.zerohedge.com/news/2013-04-11/greek-unemployment-...