Tags: Greek | Unemployment | Rises

Greek Unemployment Rises to 12.2 Percent in August

Thursday, 11 Nov 2010 10:12 AM

Greek officials say unemployment in the debt-ridden country rose to 12.2 percent in August, from 12 percent in July, after some 46,000 jobs were lost.

A statistical office statement says the total number of unemployed people rose to 613,108.

The government has said unemployment is set to rise to 14.5 percent next year and 15 percent in 2012.

Greece narrowly avoided bankruptcy in May, drawing from a 110 billion euro ($151 billion) rescue loan package from the European Union and the International Monetary Fund.

In return, the Socialist government cut pensions and salaries and hiked taxes, hoping to reduce the budget deficit from more than 13.6 percent of annual output in 2009 to 2.6 percent in 2014.

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Economy
Greek officials say unemployment in the debt-ridden country rose to 12.2 percent in August, from 12 percent in July, after some 46,000 jobs were lost. A statistical office statement says the total number of unemployed people rose to 613,108. The government has said...
Greek,Unemployment,Rises
117
2010-12-11
Thursday, 11 Nov 2010 10:12 AM
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