Unemployment Hits Record High in Greece

Athens, Aug. 11 (Prensa Latina) Unemployment reached 16.6 percent in May, the highest figure reported since Greece began publishing monthly figures in 2004. The figure is eight points higher than the 15.8 percent reported a month earlier, according to a report published Thursday by the Greek statistics service.

The number of economically active people without jobs rose to 822,719, reflecting an increase of 220,534, which is 36.6 percent higher than in May 2010.

Young people were the hardest-hit, with unemployment rates as high as 40.1 percent.

Considered by many as the point of origin of the current debt crisis, Greece was forced to resort to bailouts from the European Union and International Monetary Fund in exchange for drastic austerity measures.

The austerity moves include wage cuts of up to 20 percent for public workers, hiring freezes in state companies, and higher taxes, among others.

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