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Greek Jobless Hits Record High

Greece΄s jobless rate rose to a record high in the second quarter of this year, leaving almost one in every four people in the workforce without employment, official data showed Thursday, as the country struggles through a fifth year of economic recession.
According to Dow Jones, the number of people without work climbed to 1.17 million, 23.6% of the workforce, from 22.6% in the first three months of 2012 and 16.3% in the second quarter of 2011, the Hellenic Statistical Authority said in a statement.
The country has undergone more than two years of the austerity measures that were imposed to secure funding from international creditors and these have deepened the downturn, with younger workers and women suffering disproportionately higher levels of unemployment, the data show.
A total of 53.9% of those between the ages of 15 and 24 were looking for a job in the second quarter, up from 43.1% in the same period a year earlier.
The jobless rate for women was 27.3%, compared with 20.8% for men.
Among the unemployed, 59% are classified as “long-term unemployed,” meaning they have been looking for work for more than a year.
The region with the highest unemployment level was western Macedonia, where much of Greece΄s heavy industry is located, with a jobless level of 30% in the second quarter of 2012.
In Attica, the province that includes Athens and is home to about half of the country΄s population, unemployment rose to 23.8% from 15.6% a year earlier.
(source: Dow Jones)

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