Unemployment hit new high of 27.8 pct in October, set to rise further

EconomyMacroeconomy Tags: ELSTAT, Labour, Unemployment
Photo by Harry van Versendaal
Photo by Harry van Versendaal

Greece officially assumed the presidency of the European Union on Wednesday, with the highest unemployment rate in the 28-member bloc. According to the Hellenic Statistical Agency (ELSTAT), the seasonally adjusted jobless rate in October stood at 27.8 percent from an upwards revised 27.7 percent in the month of September. After the previous months’ revisions, the October rate now holds the new high.

There were 1.388 million jobless in October 2013, compared to 497,222 in October 2009 when the crisis in Greece began. After the revisions, September holds the highest figure of unemployed, reaching 1.389 million. Those with jobs fell from 3.62 million ...

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