Unemployment

The euro area seasonally-adjusted unemployment rate was 11.5% in August 2014, stable compared with July 2014, but down from 12.0% in August 2013, according to Eurostat.

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Greek unemployment dipped slightly in June to 27 percent from May's figure of 27.1 percent but the crisis-hit country still has the highest jobless rate in the European Union, figures published on Tuesday by the EU's statistical agency, Eurostat, showed.

The European Union will allocate EUR 105 M to fighting youth unemployment in Bulgaria, according to caretaker Labor and Social Policy Minister Yordan Hristoskov.

Speaking Friday in Plovdiv, Hristoskov announced that the program would be launched in October and it would include 8000 young people.

 Shocking report shows 6.3 million people in Greece affected

Three in every five Greeks, or some 6.3 million people, were living in poverty or under the threat of poverty in 2013 due to material deprivation and unemployment, a report by Parliament’s State Budget Office showed on Thursday.

Some 8 thousand young people up to 29 years will be employed by Bulgarian businesses with money from the state by the end of the year under the youth employment program.

A European Commission report on Erasmus has shown that the European student exchange program which began in the 1987-88 academic year has proven a particularly productive experiment.

A survey carried out by the Commission among some 80,000 people found that Erasmus students had broader cultural horizons and were capable of living and working in multifaceted European environments.

By Roula Salourou

Greece’s Manpower Organization (OAED) will activate two new employment subsidy programs for the private sector in the next few days, offering jobs to 21,620 unemployed individuals.

The growth rate for the second quarter has been announced at 2.1 percent - far below expectations. As a consequence, unemployment is rapidly escalating

The growth of tourism this year has had a clear impact on unemployment in Greece as the jobless rate announced on Thursday by the Hellenic Statistical Authority (ELSTAT) for the second quarter came to 26.6 percent.

Unemployment in Greece stood at 26.6 percent in the second quarter of 2014, compared to 27.8 percent in the previous quarter and 27.3 percent in the corresponding quarter of 2013, according to figures released by the Hellenic Statistical Authority, ELSTAT, on Thursday.