Unemployment Effects of the Greek Crisis: A Regional Examination

Greece faces a strong economic crisis as a consequence of the public debt problems and the economic adjustment program applied in the Greek economy. One of the main consequences has been the growth of the unemployment. Although studies examined the crisis’ consequences to the Greek economy, no study focused on the regional impact and particularly on the unemployment. Even thought the unemployment grew up considerably during the crisis period, this growth had a different impact within Greek regions; even within the same region, it affected on a different level the regions’ departments. This study examines the growth of the unemployment on a departmental basis and tries to connect it to the department's production specialization. The study examines the period just before and during the crisis period, 2005 to 2012. Results show that departments specialized on tourism and agriculture are less affected than other departments.