DHAKA: Unemployment continues to rise in recession-hit Greece, with the overall rate reaching 27.9 percent in June. Even worse, 58.8 percent of people under age 25 are out of work.

The Greek Statistical Authority reported on Thursday that the jobless rate had risen from 24.6 percent the previous year. In June 2008 before the global financial crisis bared its teeth and Greece entered recession, the rate stood at 7.3 percent, reports The Straits Times.

The jobless total stood at just over 1.4 million. In addition, around 3.33 million people in Greece are considered inactive, just shy of the 3.63 million in work.

Years of emergency taxes, pay cuts, and other austerity measures implemented as a condition of international bailout loans have hammered Greece’s private sector.

BDST: 1611 HRS, SEPT 12, 2013
RoR/Jck