Thursday, November 11, 2010

Greek Jobless Rate Hit Record High in August

New York Times
November 11, 2010

Greece’s jobless rate rose to a record 12.2 percent in August, while the nation’s progress in reducing its deficit appeared to slow, government data showed Thursday.

The figures underlined the difficulty of restoring the public finances at a time of economic decline. The government was scheduled to report third-quarter gross domestic product on Friday, and economists surveyed by Reuters predicted a contraction of as much as 5 percent from a year earlier.

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