Thursday, March 14, 2013

Greece Reaches Record Unemployment

According to the Associated Press. . .

ATHENS, Greece (AP) -- Unemployment in debt-crippled Greece rose to a record of 26 percent in the last quarter of 2012, as austerity measures combined with a deep recession took a harsh toll on the workforce.

The figures were worse than the previous quarter's 24.8 percent, and 20.7 percent a year earlier.

The national statistical authority said Thursday that 1.29 million people were out of a job in October-December 2012. In the under 25 age group, unemployment was 57.8 percent.

The rate for women was 29.7 percent, compared with 23.3 percent for men.

. . . and the problem is, the austerity measures have been met with economy crippling hikes in taxes.  Get people off of unsustainable government dependency, lower taxes, lower regulations against businesses, and let the market work.  Otherwise, the collapse and chaos has only just begun.

-- Political Pistachio Conservative News and Commentary

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