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Greek jobless rate rises to 26.1 percent in fourth quarter
March 12, 2015 / 10:22 AM / in 3 years

Greek jobless rate rises to 26.1 percent in fourth quarter

ATHENS (Reuters) - Greece’s jobless rate rose to 26.1 percent in the fourth quarter compared with 25.5 percent in the previous three-month period, data from the country’s statistics service said on Thursday.

The rate was the highest recorded since the second quarter of 2014, when joblessness stood at 26.6 percent.

About 73 percent of Greece’s 1.24 million jobless are long-term unemployed, meaning they have been out of work for at least 12 months, the figures showed.

Athens has already published monthly unemployment figures through December, which differ from quarterly data because they are based on different samples. Quarterly figures are not seasonally adjusted.

The debt crisis and austerity imposed by the EU/IMF lenders in exchange for a bailout wiped out about a quarter of the economy, driving the jobless rate to record highs.

The economy emerged from a six-year recession last year, with gross domestic product expanding by 0.7 percent.

Reporting by George Georgiopoulos; Editing by Crispian Balmer

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