Subscribe to newsletter

UrbanObserver

https://demo.afthemes.com/newsphere/fashion/wp-content/uploads/sites/2/2019/04/cropped-af-themes-main-dark.png

Always Active
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

No cookies to display.

Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.

No cookies to display.

Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.

No cookies to display.

Thursday, March 13, 2025

Top 5 This Week

Related Posts

Greece unemployment rate reaches record high of 28% in November 2013

Greece’s unemployment rate reached a record high of 28% in November 2013, according to newly released government figures.

The jobless rate increased from 27.7% in the previous month. For those under the age of 25, unemployment hit 61.4%.

Harsh austerity measures have led the Greek economy to shrink by a quarter in four years.

However, other economic indicators have suggested that there are signs of recovery.

Before Greece received its first 110 billion-euro ($150 billion) bailout in May 2010, the jobless rate was under 12% here.

Slight growth is expected this year and the deficit now wiped out, apart from interest payments on the bailout.

Greece’s unemployment rate reached a record high of 28 percent in November 2013
Greece’s unemployment rate reached a record high of 28 percent in November 2013

Greek unemployment is more than twice the average rate in the eurozone.

According to official EU figures, the number of people out of work in the single currency bloc in December was 19 million, with the jobless rate at 12%.

Other economic figures such as retail sales, manufacturing activity and construction, have pointed to signs that Greece’s recession has bottomed out.

However, Greece’s unemployment rate is expected to rise further in the first three months of 2014 as firms continue to restructure and cut jobs.

With 1.38 million people officially jobless, turning around the country’s economy will take time, even if the recovery does start this year as Athens hopes.

Before the crash when Greece was growing at up to 5% annually, about 50,000 jobs a year were added to the economy.

At these rates it could take more than 20 years to reduce the jobless totals – without measures to encourage domestic and foreign investment.

Clyde K. Valle
Clyde K. Valle
Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.

Popular Articles