10 May 2013

Youth unemployment in Greece at new record

6:26 am on 10 May 2013

The economy is in its sixth year of recession.

Youth unemployment in Greece is at a record high, with 64% of people under 24 now out of work.

New data showed on Thursday that overall unemployment is at an all-time high of 27%. Joblessness in the 15-to-24 age group jumped to 64.2 percent in February from 59.3 percent in January.

Despite efforts by the government to promote employment, unemployment is more than twice the average rate in the euro zone, which reached 12.1% in March.

The Greek economy is in its sixth year of recession, since a debt crisis began in 2009.