ECONOMY

Unemployment benefits take hit after all

Refuting earlier reports that unemployment benefits for the month of February due to be paid to Greece’s jobless this Friday would not be affected by 22-percent reduction, the OAED manpower organization announced later on Monday that the publication of the decision in the Government Gazette on the same day overturned the earlier statement.

OAED had said early on Monday that reductions in unemployment benefits would not be enforced before the decision, signed by the Finance and Labor ministries on March 1, was published in the Government Gazette.

Reports later on Monday said that the decision was published on the same day, putting the reduction into effect immediately.

This means that unemployed people entitled to basic benefits from OAED will receive 360 euros on Friday instead of the anticipated 461.50 euros.