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1 in 4 Greek workers unemployed as joblessness hits record 25.4%
Posted By yihan On November 8, 2012 @ 11:57 am In Money Watch,Tile | Comments Disabled
November 8, 2012
Greece’s unemployment rate reached a record high of 25.4 percent in August, with 1 in 4 of the country’s workers now jobless, the country’s statistics service reported. The figure is more than double the eurozone average of 11.5 percent for August.
The unemployment rate in Greece has increased by 0.6 percent points since July, when it recorded at 24.8 percent, ELSTAT reported on Thursday. The figure marked the 35th consecutive month of rising unemployment in Greece.
The report states that in August, 36.5 thousand Greeks lost their jobs, bringing total unemployment to 1.27 million.
Young people are the group hardest hit by employment, with a 58 percent jobless rate for those between the ages of 15 and 24.
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