ATHENS – After falling as Greece seemed edging toward recovery from a crushing economic crisis, the country’s jobless rate rose to 26 percent in December.’
That was a modest 0.1 percent jump from 25.9 percent the previous month, the country’s statistics agency ELSTAT reported March 5.
December’s reading, based on seasonally adjusted data, is the lowest since September 2014 when unemployment stood at 26.1 percent.
The record high was set in September 2013, when unemployment hit 27.9 percent and as it once neared 65 percent for those under 25, many of whom have fled the county in search of work and a better life.
Joblessness has come down from record highs but is still more than double the Eurozone’s average of 11.3 percent and as a new political crisis threatens to make life worse for many Greeks with the country’s cash running out.
Greece’s economy expanded by 0.7 percent last year, but shows signs of shrinking again. It has contracted about 25 percent since international bailouts and harsh austerity measures began almost five years ago.Source: The National Herald