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Greek Unemployment Rises Above 25 Percent

Posted at: 10/11/2012 1:53 PM
Updated at: 10/11/2012 2:03 PM

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ATHENS, Greece (AP) - The unemployment rate in Greece rose to 25.1 percent in July, from 24.8 percent the month before, as the financial crisis continued to destroy jobs.

Greece's statistical authority says in a statement Thursday that 1.26 million Greeks were jobless in July, with more than 1,000 jobs lost every day over the past year.

In the worst-affected 15-24 age group, unemployment was 54.2 percent.

In July 2008, a year before Greece's acute financial crisis broke, there were only about 364,000 registered unemployed.

Greece is surviving on international bailout loans, granted on condition of harsh austerity measures to curtail the country's large budget deficits. The economy is set to enter a sixth year of recession in 2013.

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