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Greece’s jobless rate rises to record levels

The unemployment rate in Greece reached to new record levels as revealed by official statements issued by the Statistics Centre of the European Commission, the report on the unemployment rate in Greece reached 27% in February, up 0.3% from January, pointing out that the unemployment rate among young people aged between 16 and 24 years amounted to 64%.

Media reports said that the speed of the rise in unemployment in Greece reflect the extent of the recession which the European country after years of passing austerity measures and raise taxes and cut spending.

According to the same source, the unemployment rate has tripled since the debt crisis that hit Greece in 2009, pointing to unemployment rates among young people aged between 15 and 24 reached 59.3 in January, up by 8% in 2012.

In this context, economists said that the first quarter of this year will remain very difficult to Greece amid a severe recession that has ravaged its economy despite some improvement in the past two months due to seasonal rentals.

Greece to live for six years and the recession crisis economic conditions necessitated taking harsh measures against creditors troika programs financial rescue, which led to a large proportion of workers in the Government sector, in addition to imposing new high-tax systems have led many companies to reduce employment and this resulted in high unemployment in Greece in General.