Greek Unemployment Dips To 26.4 Percent
ATHENS, Greece (AP) â¿¿ Unemployment in Greece dipped marginally to 26.4 percent in December, but experts warn that more significant improvements are unlikely in coming months.
The Greek Statistical Authority said Thursday the November figure had been revised from 27 percent originally, a record high, to 26.6 percent. The agency said the discrepancy was due to a seasonal adjustment recalculation.
The rate has fluctuated around the record levels in recent months, with some economists â¿¿ as well as a government-funded study â¿¿ predicting an increase to 30 percent this year.
About a million Greeks have lost their jobs since the start of the recession in late 2008. Only 3.7 million people work out of a population of nearly 11 million.Unemployment has surged amid austerity measures demanded by rescue lenders from other eurozone countries and the International Monetary Fund. Debt inspectors are in Athens to press for faster cuts to public sector staff. The conservative-led government has resisted the stronger pressure to fire civil servants, insisting that staff reduction targets can be met through attrition.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV