Economics

Greek Employees Supporting Two Unemployed Per Person

This article first appeared on Floating Path.

Today we find yet another statistic showing how Greece and its economic woes are just so much different than any other nation. Using data from the United Nations and International Monetary Fund, Renaissance Capital’s Charlie Robertson draws attention to the fact that each employed Greek now supports at least two others.

The ratio of non-workers to workers is also high in other struggling European nations, but Greece is the outlier. In contrast, the U.S. has around 1.2 non-workers per worker and Germany has less than 1.0.

Greek Employees Supporting Two Unemployed Per Person