Greek Unemployment Hits 28% in November 2013

World | February 13, 2014, Thursday // 15:16| Views: | Comments: 0
  • Send to Kindle
Bulgaria: Greek Unemployment Hits 28% in November 2013 Photo by EPA/BGNES

Unemployment has hit a record high figure of 28% in Greece during November 2013.

The data released by the Greek government shows a 0.3% increase in unemployment from the preceding month, as well as a record high 61.4% jobless under the age of 25.

Despite the alarming figures, experts predict that Greece's economy will come out of recession in 2014. Facts, however, show that firms and public institutions are continuing with job cuts and austerity measures, the BBC reports.

"As expected, the labour market showed a lagging reaction to other positive signs in the economy", said Nikos Magginas of the National Bank in Athens.

Recently, Germany revealed that it is preparing a third bailout package for Greece, worth between EUR 10-20 B.

World » Be a reporter: Write and send your article
Tags: greece, unemployment, bailout, Germany, austerity, Athens
Advertisement All Are Welcome! Join Now!
Please, log in to post a comment.
» To the forumComments (0)
Bulgaria news (Sofia News Agency - is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." (Sofia News Agency - and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria