Greek unemployment crisis worsened by low job finding rates post-recession.
The study looked at Greek unemployment during the Great Depression, focusing on the period after 2008. They found that both the rate at which people lost jobs and the rate at which they found new ones affected unemployment levels. Early on, more people were losing jobs, but later more people were finding new ones. This pattern held even when considering factors like how long people stayed unemployed. They also found that different groups of people (like men, women, young, old, educated, less educated) experienced different levels of unemployment before and after 2008. Overall, Greece needs to address its low job finding rate and the types of jobs available to combat the ongoing labor market crisis.