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Greek jobless rate soars

first_img Facebook Twitter: @NeosKosmos Instagram Greece’s jobless rate rose to 27.6 per cent in May from an upwardly revised 27 per cent in April, announced the country’s statistics service (ELSTAT) this week. It was the highest reading since ELSTAT began publishing jobless data in 2006, and more than twice the eurozone’s average reading of 12.1 per cent in June, reflecting the impact of a six-year, austerity-fueled recession. The number of unemployed people increased by 193,668 (a 16.3 per cent rate of increase) compared with May 2012 and by 30,558 compared with April 2013 (a 2.3 per cent rate of increase), ELSTAT said. Meanwhile, the country’s youth unemployment rate stood at 64.9 per cent.last_img