Greek unemployment jumps to record

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File photo

Published Apr 14, 2011

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Greece's unemployment rate increased for the seventh consecutive month in January to a new record of 15.1 per cent, the Hellenic Statistical Authority (ELSTAT) said Thursday.

The unemployment rate rose from 14.8 the previous month with the total number of Greeks out of work at 756,800.

In January last year the jobless rate was 11.3 per cent and 567,100 people were out of work.

Greece agreed to a series of cost-cutting measures in exchange for a 110-billion-euro (154 billion dollar) rescue package by the EU and IMF in May 2010 to avoid bankruptcy.

The Socialist government is expected to announce this week a 2012- 15 programme of additional budget cuts in an effort to raise 23 billion euros to meet its deficit reduction targets. - Sapa-dpa

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