Thanks to statists, Greek unemployment hits record high--Almost half of working-age Greeks are seeking jobs abroad

Greece’s unemployment rate extended its record high, climbing to 26.8 per cent in October as the country heads into a sixth year of recession.

The rate rose from 26.2 per cent in September, revised higher from an earlier figure of 26 per cent, the Athens-based Hellenic Statistical Service said in an e-mailed statement today. Joblessness is the highest since the agency began publishing monthly data in 2004.

In November, Greece’s coalition government approved new austerity measures needed to clinch aid under two bailouts from the European Union and the International Monetary Fund. The recession and deepening labor slump have worsened amid spending cuts and tax increases imposed to reduce a budget shortfall that was more than five times the euro-area limit in 2009.

Job creation is the top priority for Greece, Prime Minister Antonis Samaras said yesterday at a presentation of a development plan for the country in 2013. The economy will shrink as much as 4.5 per cent this year and unemployment will exceed 26 per cent in both 2013 and 2014, the Bank of Greece said on Dec. 3.

Read more: http://www.smh.com.au/business/world-business/greek-unemployment-hits-record-high-20130111-2cjoo.html#ixzz2HdBem9vr

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Thanks to statists, Greek unemployment hits record high--Almost half of working-age Greeks are seeking jobs abroad PgkowJT

Thanks to statists, Greek unemployment hits record high--Almost half of working-age Greeks are seeking jobs abroad PgkowJT

Thanks to statists, Greek unemployment hits record high--Almost half of working-age Greeks are seeking jobs abroad

Thanks to statists, Greek unemployment hits record high--Almost half of working-age Greeks are seeking jobs abroad

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