ECONOMY

Greece tops EU unemployment rate as eurozone sets new jobless record

The unemployment rate in Greece is the highest among European Union countries, according to data released by Eurostat on Tuesday, which showed that joblessness in the eurozone had reached record levels.

The Eurostat figures pointed to 27.2 percent of Greece’s workforce being unemployed, with 59.1 percent of the under-25 age group seeking work.

The Eurostat data released related to figures recorded in March 2013 with regard to European Union and eurozone countries, whereas in the case of Greece the figures related to January 2013.

In the eurozone area the unemployment rate reached 12.1 percent in March, compared to 12 percent in February and 11 percent a year earlier, while in the European Union, comprised of 27 countries, the rate remained unaltered from February at 10.9 percent.

The highest unemployment rates in the European Union were recorded in Greece (27.2 percent in January 2013), followed by Spain (26.7 percent) and Portugal (17.5 percent).

The lowest rates were recorded in Austria (4.7 percent), Germany (5.4 percent), Luxembourg (5.7 percent) and The Netherlands (6.4 percent).

According to the data released, Greece’s unemployment rate rose from 25.7 percent in December 2012 to 27.2 percent in January 2013. The Januray 2013 figures represented 23.9 percent of the male workorce and 31.4 percent of the female workforce.