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Financial Mirror (Cyprus) - - FRONT PAGE -

The job­less rate fell to 25.9% in Au­gust from a down­wardly re­vised 26.1% the pre­vi­ous month, as the coun­try’s six-year re­ces­sion eases, the statis­tics agency ELSTAT said.

Au­gust’s read­ing was the low­est in two years when un­em­ploy­ment stood at 25.5%, while the high mark was in Septem­ber 2013, at 28%.

Greece’s un­em­ploy­ment is com­ing down from record highs as the econ­omy sta­bilises after a se­vere re­ces­sion but re­mained at more than dou­ble the euro zone av­er­age of 11.5% in Au­gust. Na­tional out­put is pro­jected to emerge from re­ces­sion and ex­pand by 0.6% this year, re­sult­ing in higher em­ploy­ment rates.

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