Greek Unemployment Hits New High of 26.9% in April


In April, Greece's unemployment rate rose to 26.9 percent, compared to 23.1 percent in April of 2012 and 16.2 percent in April of 2011. Youth jobless rate rose further to 57.5 percent.

The jobless rate in greece is now more than twice than the Euro Area's reading of 12.2 percent, reflecting the impact of a six-year austerity-fueled recession. The number of unemployed increased by 194,746 persons (a 17 percent rate of increase) compared with April 2012 and by 24,025 persons compared with March 2013 (a 1.2 percent rate of increase). 

The number of employed decreased by 159,955 persons compared with April 2012 (a 4.2 percent rate of decrease) and increased by 43,668 persons compared with March 2013 (a 1.2 percent rate of increase).

Inactive persons, people that neither worked neither looked for a job, decreased by 23,770 ersons (a 0.7 percent rate of decrease) compared with April 2012 and by 20,218 persons compared with March 2013 (-0.6 percent).

Greek Unemployment Hits New High of 26.9% in April


Elstat | Nuno Fontes | nuno@tradingeconomics.com
7/11/2013 10:13:45 AM