[QODLink]
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
Email Article
Print Article
Share article
Send Feedback

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.

86

Source:
Al Jazeera
Email Article
Print Article
Share article
Send Feedback
Topics in this article
People
Country
City
Organisation
Featured on Al Jazeera
Your chance to be an investigative journalist in Al Jazeera’s new interactive game.
An innovative rehabilitation programme offers Danish fighters in Syria an escape route and help without prosecution.
Street tension between radical Muslims and Holland's hard right rises, as Islamic State anxiety grows.
Take an immersive look at the challenges facing the war-torn country as US troops begin their withdrawal.
Featured
Indonesia's cassava plantations are being killed by mealybugs, and thousands of wasps have been released to stop them.
Violence in Ain al-Arab has prompted many Kurdish Syrians to flee to Turkey, but others are returning to battle ISIL.
Unelected representatives quietly iron out logistics of massive TPP and TTIP deals among US, Europe, and Asia-Pacific.
Led by students concerned for their future with 'nothing to lose', it remains to be seen who will blink first.
Taipei has sided with Hong Kong's pro-democracy protesters as relations with Beijing continue downward spiral.