Thursday August 28, 2014 Search
Weather | Athens
31o C
24o 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)  
Less property tax in the future, says finance minister
New development bank mulled
Bridge on Tripoli-Kalamata highway nears completion
Greece likely to miss Eurostat deadline for reassessed figures
Minister sees no need for university dismissals
Education Minister Andreas Loverdos indicated on Wednesday that he would go against government policy and refuse to fire any university administrative staff. Loverdos said that an evaluation...
Visitor numbers to Greeces most important sites and museums grow
Culture Ministry figures indicate a significant increase in visitors to some of the countrys 38 most important archaeological sites and museums in the second quarter of this year, an improv...
Inside News
SOCCER
Ranieri brings in new faces for his first Greece squad
New Greece coach Claudio Ranieri announced Wednesday a 24-man squad for the first Euro 2016 qualifier against Romania at home on September 7. Earning a first time call up were Olympiakos 21-...
SOCCER
Roma signs Greece defender Manolas from Olympiakos for 13 mln
Greece international Kostas Manolas has joined Roma on a 13 million ($17 million) transfer from Olympiakos, as coach Rudi Garcia looks to strengthen his worrisome defense before Serie A sta...
Inside Sports
COMMENTARY
Diplomacy, not dogmatism
A friend who moves comfortably within the circles of the European establishment recently described a particularly interesting experience when he found himself in a discussion behind closed d...
EDITORIAL
Preachers of hatred
Engaging in public dialogue regarding whether the anti-racism bill is mandatory and sensible is both legitimate and necessary at this current point in time. In the meantime, however, regardl...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Less property tax in the future, says finance minister
2. Minister sees no need for university dismissals
3. New development bank mulled
4. Visitor numbers to Greeces most important sites and museums grow
5. Coalition leaders brief ministers on strategy for troika talks
6. Jailed terrorist was preparing bomb, police say
more news
Today
This Week
1. ND gains one deputy as ousted MP sworn in Lamia mayor
2. Ryanair to submit bid for Cyprus Airways
3. Draghi soothes bond market after summer of strife
4. Venizelos hails Gaza ceasefire
5. ND honorary president taken to hospital
6. Bishop Vartholomaios of Megara and Salamina dies
Today
This Week
1. Brussels warns Greece over plans to allow construction near Korinos beach
2. Logged out of reality
3. Merkel cites euros construction flaws as economy sputters
4. Attack on gay couple in Athens leaves one man needing surgery
5. Second man held over double murder in Mani
6. Purification rituals
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.