ECONOMY

Greek jobless rate rises to 27.6 pct

Greece’s jobless rate rose to 27.6 percent in May from an upwardly revised 27 percent in April, the country’s statistics service (ELSTAT) said on Thursday.

It was the highest reading since ELSTAT began publishing jobless data in 2006, and more than twice the eurozone’s average reading of 12.1 percent in June, reflecting the impact of a six-year, austerity-fueled recession.

The number of unemployed people increased by 193,668 (a 16.3 percent rate of increase) compared with May 2012 and by 30,558 compared with April 2013 (a 2.3 percent rate of increase), ELSTAT said.

Meanwhile, the country’s youth unemployment rate stood at 64.9 percent. [Combined reports]