Greek jobless total hits another record high
- 9 years ago
Greece’s unemployment rate has gone up to 26.1 percent.
It’s the highest recorded rate since the second quarter of 2014, when joblessness stood at 26.6 percent.
About 73 percent of Greece’s 1.24 million jobless are long-term unemployed, meaning they have been out of work for at least 12 months.
The debt crisis and austerity imposed by EU/IMF lenders in exchange for a bailout wiped out about a quarter of the economy, driving the jobless rate to record highs.
The economy emerged from a six-year recession last year, with gross domestic product expanding by 0.7 percent.
It’s the highest recorded rate since the second quarter of 2014, when joblessness stood at 26.6 percent.
About 73 percent of Greece’s 1.24 million jobless are long-term unemployed, meaning they have been out of work for at least 12 months.
The debt crisis and austerity imposed by EU/IMF lenders in exchange for a bailout wiped out about a quarter of the economy, driving the jobless rate to record highs.
The economy emerged from a six-year recession last year, with gross domestic product expanding by 0.7 percent.