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Greek unemployment rate reaches record high in May Greek unemployment rate reaches record high in May
(about 1 hour later)
Greece's unemployment rate hit another record high in May of 27.6%, according to the country's statistics body.Greece's unemployment rate hit another record high in May of 27.6%, according to the country's statistics body.
The figure, from the Hellenic Statistics Authority, compares with a jobless rate of 23.8% in May last year.The figure, from the Hellenic Statistics Authority, compares with a jobless rate of 23.8% in May last year.
The biggest age group without a job remains those aged between 15-24, where the rate is 64.9%.The biggest age group without a job remains those aged between 15-24, where the rate is 64.9%.
Greece, the worst affected of eurozone economies and the first to receive an international bailout in May 2010, was given another 6.8bn euros last month. The news emerged as the Greek prime minister, Antonis Samaras prepares to meet US President Barack Obama in Washington.
The money has strict conditions attached which demand that the country reduces government debt. Among the topics on the list for discussion are Greece's efforts to reform its economy.
That has meant deep job cuts, tax increases, and cuts to wages and pensions. Greece is in its sixth year of recession, and has seen a 25% drop in output since 2007.
Public anger
Greece, the worst affected of eurozone economies and the first to receive an international bailout in May 2010, was given another 6.8bn euros last month from the European Union, the International Monetary Fund (IMF) and the European Central Bank.
The money has strict conditions attached which demand that government debt levels are reduced.
That has meant deep job cuts, tax increases, and reductions in wages and pensions.
However, more austerity measures are being demanded.
At the time the latest loan money was secured, the IMF said that Greece must deliver "rapidly on structural reforms to unlock growth and create jobs".
The government's actions so far have prompted widespread public anger and protests, which have sometimes turned to violence.
Last week, figures from the official eurozone statistics agency reported that Greece's unemployment rate was 26.9% in June, compared with a eurozone-wide figure of 12.1%.Last week, figures from the official eurozone statistics agency reported that Greece's unemployment rate was 26.9% in June, compared with a eurozone-wide figure of 12.1%.