Greece's Unemployment Hits Record 26%

An old man stands in front of the Greek parliament building holding a poster that shows German Chancellor Angela Merkel as a Nazi and a placard that reads “201 Euros is my pension“, Athens, Greece, 11 November 2012. EPA/BGNES

Greece's unemployment rate has risen to a record high of 26% in September, as the country heads to a sixth year of recession, the Greek state statistics agency (ELSTAT) said on Thursday.

The jobless rate rose from 25.3% in the previous month and 18.9% a year earlier, data indicated as cited by DPA.

Official figures showed 1.295 million people were unemployed, with women making up 30.1% compared to 22.3% a year. The percentage of unemployed men stood at 22.9%, compared to 16.4% a year ago.

Greece's jobless rate was especially high for the 15-24 age group with 56.4% compared to 47.6% for the same month in 2011.

The Greek unemployment rate has increased dramatically as a result of harsh austerity measures demanded by Greece's international creditors in exchange for rescue loans.

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