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Greek unemployment jumps again despite budget back in black

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Greek unemployment jumps again despite budget back in black
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Unemployment in Greece has hit a new record high. More and more people say the current method for getting out of the crisis is not working, and the country has slipped back to the 1950s.

Fewer and fewer jobs are available for the nearly 1.4 million people who have lost their work in the last six years or have joined the dole queues.

While the overall figure is bad enough the youth unemployment figure is even worse, with more than half of the 15-24 age group currently able to earn a living. Both unemployment rates are worse than this time last year.

However the government is now running a budget surplus, and is on target to keep its international creditors happy, and thus earn more debt relief.

“The government’s success story according to Prime Minister Samaras, is the people’s story of failure. It was built on layoffs, the shutdown of companies and institutes, and the shrinking of public investment,” said one young male jobseeker.

The IMF forecast this week supported Athens’ prediction of a return to economic growth next year, which provided hope that Greece could finally be emerging from years of debt-driven economic turmoil. This cannot come too soon for families below the poverty line, who will be expecting more jobs created as the economy turns. A purely fiscal recovery will not be enough for them.