Greece’s Jobless Rate Rises to 12.4% in Third Quarter
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Greek unemployment climbed to the highest rate in almost 11 years in the third quarter as the recession deepened and the country imposed austerity measures as part of a 110 billion-euro ($146 billion) international bailout.
The jobless rate rose to 12.4 percent, or 621,938 people, from 11.8 percent in the second quarter, the Athens-based Hellenic Statistical Authority said in an e-mailed statement today. It has increased 3.1 percentage points over the past year to the highest since the final three months of 1999, when it hit 12.7 percent.