Thursday, September 6, 2012

This Is Economic Death: Greek Unemployment Rises By 1% In One Month

It actually does elicit commentary, especially when you hit the link and see the chart and read the very last line that Tyler wrote and you wonder can/will that really happen? But charts don't lie, they only show the "big picture" in the minutest detail and what it's detailing is not going away, it's escalating.
How is it possible in this day and age

The chart below needs no commentary, neither does what it represents. In May Greek unemployment, pre revision, was 23.1%. It was subsequently revised higher to 23.5%, but this is merely to make the jump to the June number more palatable. What was June? 24.4%. In other words, no matter how one looks at it, the unemployment rate rose by 1% in one month.