Poor Greece: the country that just reported yet another all time record high unemployment rate, this time for the month of June when the jobless rose from 27.6% to 27.9%, apparently does not know that all it had to do to see its unemployment plunge to 0% or thereabouts, was to upgrade from abacus to solar-powered calculator, as the US BLS just proudly announced it did when it reported the latest batch of absolutely garbage “data”.
The drivers of this record high rate:
The seasonally adjusted unemployment rate in June 2013 was 27.9% compared to 24.6% in June 2012 and 27.6% in May 2013. The number of employed amounted to 3,628,421 persons. ?he number of unemployed amounted to 1,403,698 while the number of inactive to 3,334,690.
The number of employed decreased by 128,998 persons compared with June 2012 (a 3.4% rate of decrease) and by 2,390 persons compared with May 2013 (a 0.1% rate of ecrease).
Unemployed increased by 174,709 persons (a 14.2% rate of increase) compared with Kune 2012 and by 20,254 persons compared with May 2013 (a 1.5% rate of increase).
More bad news in the full release.
Perhaps it is finally time to go from Greekcovery to just Reekovery, or Reek, in short.