ECONOMY

Greek unemployment rises to 25.2 percent in June

greek-unemployment-rises-to-25-2-percent-in-june

Greece's jobless rate rose to 25.2 percent in June from 25 percent in the previous month, statistics agency ELSTAT said on Thursday.

The reading in June, based on seasonally adjusted data, was the lowest since June 2012 when unemployment stood at 24.9 percent. The jobless rate hit a record high of 27.9 percent in September 2013.

Unemployment has come down from record highs as the economy stabilised last year after a severe slump. It remains more than double the eurozone's average, which eased to 10.9 percent in July, its lowest level in more than three years.

Greece's economy expanded by 0.9 percent in the second quarter, helped by consumer spending and net exports. But it is seen sliding back into recession in the second half of the year.

[Reuters]