Unemployment up again in October-December
Greece’s unemployment rate is rising again, reaching 23.6 percent in the last quarter of 2016 – up one percentage point on the quarter. Greece’s statistical authority said yesterday that the number of jobless was 1.12 million in October-December, compared with 1.09 million in the third quarter of 2016. Greece’s unemployment rate is the highest in the European Union and hit record levels during the country’s seven-year financial crisis, reaching 27.8 percent in early 2014. The economy has suffered amid long delays in the government’s talks with international creditors on getting the latest batch of bailout loans. Economic output fell 1.2 percent on the quarter in October-December. The statistical authority said 72 percent of Greece’s jobless have been out of work for at least a year.