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Europe

Greek jobless figure hits new high

Nearly 28 percent of workforce sitting idle as country assumes six-month rotating presidency of EU.

Last updated: 10 Jan 2014 20:00
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Unemployment in Greece has hit a record high of 27.8 percent and the government is expected to eliminate permanent jobs, just as the country assumes the European Union's six-month rotating presidency.

Some younger Greeks, seeing no opportunities in the public sector, have decided to take risks by starting their own businesses.

Others shy away from such risky jobs and, with banks cash-strapped, there is not enough capital for new investments to pick up labour as quickly as it is being shed. John Psaropoulos reports from Athens.

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Source:
Al Jazeera
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