Sunday April 20, 2014 Search
Weather | Athens
17o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greek unemployment hits 25.4 pct in August, new record [update]

 1.27 million Greeks without work, up 38 pct from last year

Greece's jobless rate rose for a 39th consecutive month to a new record of 25.4 percent in August, more than double the euro zone average, Greece's statistics service ELSTAT said on Thursday.

A crippling, austerity-fuelled recession continued to take its toll on the labour market, putting Greek unemployment at more than double the euro zone average of 11.5 percent.

The jobless rate has more than tripled since the country's five-year economic slump began in 2008. It now stands at 58 percent for those aged between 15 and 24 years, compared with 20 percent in August 2008.

Greece's economy is estimated to have shrunk by about a fifth since then. The slump is expected to continue in 2013 when the government is set to take budget cuts and tax increases worth 9.4 billion euros as a pre-condition to receive more funds under its international bailout.

A record 1.27 million Greeks were without work in August, up 38 percent from the same month last year.

Greece's August jobless rate was the European Union's second highest, behind fellow euro zone sufferer Spain, whose unemployment rate stood at 25.5 percent, according to Eurostat.

The European Commission forecast this week that the Greek labour market would bottom out in 2013, with unemployment slipping to around 22 percent in 2014, the economy's first year of modest recovery after six consecutive years of recession. [Reuters]

ekathimerini.com , Thursday November 8, 2012 (12:51)  
Eurobank share offering on April 25-29
PPC to issue corporate bond of 500 mln
Primary surplus continued by end-March
Eurobank eyes top Core Tier 1 level in Greece
Greek Christians mark rare Good Friday in north Cyprus
Hundreds of Greek Orthodox pilgrims, some coming home after 40 years of forced exile, commemorated the crucifixion of Jesus in a rare Good Friday service in northern Cyprus. Held in this med...
Greece offers to help find Turkish F-16 lost in 1996
Greece officially offered on Thursday to assist Turkey in its efforts to locate and salvage a Turkish Air Force fighter jet which crashed in the Aegean almost 20 years ago. Greek Defense Min...
Inside News
BASKETBALL
Greens lose badly as CSKA Moscow
Panathinaikos has a mountain to climb in order to reach the Final Four of the Euroleague after losing at CSKA Moscow on Friday for a second time in two days, only this time it was comprehens...
BASKETBALL
Former Red Bourousis wrecks Olympiakoss hopes for a break
Olympiakos tried harder in Game 2 of the Euroleague play-offs in Spain, and Real Madrid was not as good on Thursday as in Game 1, but the Spaniards still emerged victorious on the night with...
Inside Sports
COMMENTARY
The placebo effect and the economy
Among the greatest mistakes made in the years of Greeces hard landing is that citizens did not get the chance to sense that aside from austerity and pain the economic adjustment program als...
COMMENTARY
Ukraine is a crisisbut not a Cold War
Given Russias annexation of Crimea, the imposition of US and European sanctions, and the potential for more escalation in Ukraine, we are witnessing the most important geopolitical events s...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Greek Christians mark rare Good Friday in north Cyprus
2. Eurobank share offering on April 25-29
3. Greens lose badly as CSKA Moscow
4. Former Red Bourousis wrecks Olympiakoss hopes for a break
5. PPC to issue corporate bond of 500 mln
6. Greece offers to help find Turkish F-16 lost in 1996
more news
Today
This Week
1. Greek Christians mark rare Good Friday in north Cyprus
2. Eurobank share offering on April 25-29
Today
This Week
1. Greece's market return mirrors return of tourists
2. Parties start announcing candidates for European Parliament elections
3. Samaras sees no need for third bailout
4. Greece startup leaders say they cant break jobless cycle alone
5. Ground-breaking Good Friday mass signals thaw in Cyprus
6. IMF's Thomsen says Greece not fully financed to 2016
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.