Greek unemployment hits new record

Greek unemployment hits new record
# 13 July 2012 08:46 (UTC +04:00)
Baku – APA-Economics. Greece’s jobless rate scaled a new record high in April, data showed on Thursday, providing gloomy news for the hard-pressed coalition government that emerged from the country’s rerun election in June.

Greece is suffering a fifth year of recession and depends on financial aid from the European Union and the International Monetary Fund, which have imposed budget cuts that have caused a wave of corporate closures and triggered job losses.

Unemployment hit 22.5 percent in April, up from an upwardly revised 22 percent in March, with 1.109 million people out of work, ELSTAT, Greece’s statistics service said. It was a sharp rise from 16.2 percent in April last year.






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