ECONOMY

Jobless rate keeps soaring

Greece remains the European Union country with the highest unemployment rate, which reached 26.4 percent in December 2012, compared to 21.4 percent in the same month in 2011, Eurostat announced on Tuesday.

Spain and Portugal follow with 26.3 percent and 17.5 percent respectively. Behind them are Slovakia (14.6 percent), Latvia (14.3 percent) and Ireland (14.2 percent).

Cyprus’s jobless rate stood at 14 percent three months before the announcement of the haircut on bank deposits.

Greece is also the leader in unemployment among those aged up to 25, where the rate stands at 58.4 percent, followed by Spain (55.7 percent), Portugal (38.2 percent) and Italy (37.8 percent).

The Labor Institute of the General Confederation of Greek Labor (GSEE) said on Tuesday the unemployment rate in Greece has become untenable.