Economy

Greek unemployment rises to 27.5 percent

ATHENS, Greece (AP) — Official figures show the unemployment rate in Greece increased to 27.5 percent in the fourth quarter of 2013 as the economy struggled to emerge from a protracted recession.

Thursday's figures from the statistics agency showed the jobless rate increasing from 27 percent in the third quarter of 2013 and from 26 percent in the same three months of 2012. Greece, a country of about 10 million people, has 1.36 million people out of work, the figures showed. Young people are the most severely affected, with 57 percent of those aged 15-24 jobless.

Greece, which has been affected by a financial crisis since late 2009, depends on rescue loans from the International Monetary Fund and other European countries. In return, it has had to impose deep spending cuts and tax increases.

Related Headlines

  • Greece returns to bond markets with a bang

    Buoyant Greek officials hailed the country's return to the international debt market after four years as an overwhelming success Thursday, with investors snapping up the ... 

  • Spain economic recovery 'gathering pace'

    Spain's economic recovery will gather pace this year but unemployment is set to remain above 20 percent until 2017, according to government predictions Wednesday. 

  • Mariano Rajoy

    Spain's Rajoy offers job plans as growth improves

    Prime Minister Mariano Rajoy revised upward Spain's economic growth forecasts Tuesday as he announced tax cuts and job creation incentives to give the country a boost after ... 

  • Eurozone jobless down again in March

    Further evidence emerged Friday to show that unemployment across the 18-country eurozone is falling on a consistent basis and that the region's recovery is on a sounder ... 

Find the best rates

Find your future job here