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Greece jobless rate up to 26 per cent as recession continues


Greek Prime Minister Antonis Samaras waits the arrival of Lebanese President Michel Suleiman in Athens, Thursday, Dec. 6, 2012. Greece's is finalizing a major tax reform bill, demanded by international rescue creditors as one of several conditions for continued payments. Greece's conservative-led government has promised to try and stem the country's punishing recession, but last month introduced another round of austerity measures. New unemployment figures, released Thursday, showed the country's jobless rate rising to 26 percent in September. (AP Photo/Petros Giannakouris)

ATHENS, Greece - Greece's unemployment rate rose to 26 per cent in September, as the country heads toward a sixth year of recession.

The Greek Statistical Authority announced Thursday that 1.295 million people were recorded as being unemployed in September — pushing up the jobless rate up from 25.3 the previous month and 18.9 per cent a year earlier.

The number of people employed stood at 3,695,053 while another 3,373,692 were listed as financially inactive, according to a statement with September data.

Greek unemployment has surged as a result of harsh austerity measures imposed in return for international rescue loans. The Bank of Greece forecast this week that the country's gross domestic product would contract by more than 6 per cent this year, and by a further 4-4.5 per cent next year.


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