NEWS

GSEE predicts unemployment will reach 29 percent this year

Greece’s General Confederation of Labor (GSEE), the country’s largest private sector union, said that its researchers project that unemployment will reach 29 percent by the end of this year, meaning the number of unemployed Greeks will reach 1.45 million.

The jobless rate in the final quarter of last year reached 26 percent, according to the Hellenic Statistical Authority (ELSTAT).

GSEE researchers also said that the average gross income in Greece had fallen by 29 percent since 2009, while the average price of goods and services had risen by 17 percent compared to 2007 levels.