Greek Youth Unemployment Hits 55% as Labour Market Buckles

(IBT) Greece's youth unemployment rate jumped to 55.1% in July as the country continues to suffer from the economic crisis.

According to the Greek Statistical Authority Elstat, the agency revealed that the youth unemployment rate shot up in July 2013, up from 54.9% in July 2012 and an increase from 42.6% in July 2011.

The body also found that the total amount of Greek people in unemployment was 27.6% in July, a hike from 25 % in July 2012.

The total number of employed citizens during July 2013 was estimated at 3,610,549 people, according to Elstat.

The research also demonstrated that the number of employed decreased by 136,714 persons compared with July 2012, a decrease of 3.6%.

But the number of unemployed increased by 126,451 persons, compared with July 2012 (a 10.1% increase) and 729 persons compared to June 2013 (a 0.1% increase).

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