Tuesday Jul 22, 2014 Search
Weather | Athens
29o C
22o 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)  
Consumer confidence in Greece improves in Q2
Greek sovereign debt at 174.1 percent of GDP in first quarter
Portugal, Greece have money if banks need it, Regling says
Shares in Greek renewable energy firm drop in trade debut
Old Attica train tracks to be transformed into bicycle lane network
The Attica Regional Authority in cooperation with experts from the National Technical University of Athens (NTUA) are drawing plans to transform abandoned railway tracks into bicycle lanes t...
Attica hospital workers to hold five-hour walkout on Wednesday
Workers at public hospitals in the Attica region will walk off the job from 10 a.m. to 3 p.m. on Wednesday and stage a protest rally at 11 a.m. outside the Health Ministry They are protestin...
Inside News
TRACK & FIELD
Athens, the Marathon capital of the world for good
Paco Borao, the man who restored Athens as the Marathon capital of the world with the establishment at the Olympic Sports Center of the headquarters of the International Association of Marat...
TRACK & FIELD
Pole vault record on same day as three doping cases
Greek track and field had a mixed weekend, as on the same day as Katerina Stefanidi matched the national record in pole vault as well as the leading result in Europe so far this season, thre...
Inside Sports
COMMENTARY
Unequal after death
The dead are dead and the slain are slain, whether they are Malaysian, Dutch, Palestinian or Israeli, whether they are the innocent victims of a civilian plane that is shot down (we still do...
EDITORIAL
Chinese investment
The relationship between Greece and China has become one of major strategic importance. Beijing threw its support behind Athens during a period when the country was going through particularl...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Athens, the Marathon capital of the world for good
2. Old Attica train tracks to be transformed into bicycle lane network
3. Attica hospital workers to hold five-hour walkout on Wednesday
4. PM congratulates police over Maziotis arrest
5. Consumer confidence in Greece improves in Q2
6. Greek sovereign debt at 174.1 percent of GDP in first quarter
more news
Today
This Week
1. Unequal after death
2. Chinese investment
3. Greeks getting better at recycling, though still Europe's laggards
4. Piraeus prosecutor investigating use of funds for building renovation
5. Shares in Greek renewable energy firm drop in trade debut
6. Greek sovereign debt at 174.1 percent of GDP in first quarter
Today
This Week
1. China and Greece agree to further cooperation in transportation, infrastructure
2. Ex-Credit Suisse banker taps lesson for Greek rebound
3. The cost of excellence
4. Pay-TV booms as cash-strapped Greeks shun depressing news shows
5. Greece seen in third bailout as bonds not enough, economists say
6. Summer storms cause problems in Thessaloniki, spread across the country
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.