Greece΄s unemployment rate continued to rise in November last year, reaching 13.9%, sharply higher than the 10.6% rate in the corresponding month of 2009, and above the 13.5% rate in October, the statistics service ELLSTAT said Thursday.
Greece is struggling through a protracted recession while undertaking a tough three-year austerity and reform program to cut its budget deficit. In 2009, Greece΄s unemployment rate averaged 9.5%.
The number of people employed also fell further, to 4.30 million in November from 4.36 million a month earlier.
In its 2011 budget, the Greek government estimates that unemployment will rise to 14.5% in 2011 before peaking at 15% in 2012. However, labor unions say joblessness could reach as high as 20% this year.
In its official forecast, the IMF predicts that Greek unemployment will peak at 15.2% in 2012.
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