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Greek Jobless Rate Hits 27.6%

unemployment22With Greek Prime Minister Antonis Samaras touting a “success story” for his government, and as he was about to meet U.S. President Barack Obama in the White House on Aug. 8, the Hellenic Statistical Authority (ELSTAT) reported unemployment has hit a record 27.6 percent, and 64.9 percent for those under 25.
It was 27 percent in April and the new level is a 3.8 percent increase over the same period a year ago when it was 23.8 percent, showing how deep and long lasting the country’s recession is even after six years. It’s going to get worse as Samaras’ government is set to fire scores of thousands of public workers on the orders of international lenders.
The total number of employed during May 2013 is estimated to stand at 3,621,153 people. The number of unemployed amounted to 1,381,088 people, while the financially inactive population stood at 3,318,671 people.
The number of employed dropped by 171,356 people in comparison to May 2012 (drop of 4.5 percent) and by 22,815 people in comparison with April 2013 (drop of 0.6 percent.) Unemployed rose by 193,668 people in comparison with May 2012 (rise of 16.3 percent) and by 30,558 people in comparison with April 2013 (rise of 2.3 percent).
The financially not active, i.e. those people who do not work nor seek employment, dropped by 33,535 people in comparison to May 2012 (a drop of 1 percent) and rose by 20,508 people in comparison with April 2013 (rise of 0.6 percent).

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