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Greek unemployment rate edges up to 27.6%

In total, the number of unemployed people in Greece rose to 1.374 million people in July, while 3.6 million people were in jobs.

The Greek unemployment rate ticked up in July to 27.6 per cent from 25 per cent a year before, with young people still the hardest hit, official data shows.

Announced by the Elstat statistics agency, the rate was marginally higher than the 27.5 per cent posted the month before.

In total, the number of unemployed rose to 1.374 million people in July, while 3.6 million people were in jobs, the data said.

Worst affected were workers under 24 years old, with 55.1 per cent out of jobs, compared to 54.9 per cent a year ago.

The data also showed that in July, 31.1 per cent of women were unemployed compared to 25 per cent of men.

After six years of recession and two strict bailout programs, Greece remains the eurozone country with the highest unemployment.

Since 2008, the unemployment rate has tripled, while the economy has contracted by 22 per cent.

On Monday, however, a government budget draft forecast a turnaround with a return to growth in 2014, after a another contraction of 4.0 per cent this year.


1 min read

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Updated

Source: AAP


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