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Greece – Unemployment Hits New Record High of 23.1 percent In May

Unemployment in Greece increased further and reached a new record high in May, as the labor market continues to be hit by the deepening recession, data released by the Hellenic Statistical Authority showed Thursday.

The unemployment rate increased to 23.1 percent in May from the revised 22.6 percent in June, reaching the highest level since records started. In May 2011, the jobless rate was 16.8 percent.

The unemployment rate among youth, aged between 15 and 24, was 54.9 percent during the month, up from 41.7 percent recorded in the same month last year.

There were around 1.15 million unemployed persons in Greece in May, sharply higher than around 836,000 recorded a year earlier.

Meanwhile, the number of persons in employment decreased to about 3.81 million from 4.14 million in May 2011, data showed.

Source: 

via Greek Unemployment Hits New Record High In May.

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