Greek Unemployment Rate Rises To 27.4% In September

The unemployment rate in Greece edged up in September, hitting 27.4 percent compared to 27.3 percent in August, and more than a percentage point above the 26.0 percent rate reported in September 2012, even as the government expects employment levels to improve in 2014.

Data from the Hellenic Statistical Authority on Wednesday showed that 1.37 million Greeks were out of a job in September, marking a 5.9 percent rise in the number of unemployed on a yearly basis. On a monthly basis, the number of unemployed rose by 1 percent, as Greece continues to reel from austerity measures put in place to aid the nation in its recovery from a debt crisis.

“During the last four months, we observed a relative stability in the estimated seasonally adjusted unemployment rate,” an official statement said.