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Greek unemployment ‘stabilizing’ despite Sept rise

December 11, 2013

ATHENS, Greece (AP) — Greece’s statistics office is noting some signs of stabilization in the labor market despite a modest increase in the country’s unemployment rate in September to 27.4 percent from the previous month’s 27.3 percent.

The country’s statistical authority says a total 1.38 million people were out of work in September, up from 1.30 million a year earlier. Despite the rise, the agency said Wednesday that it has observed “a relative stability” over the past four months, since the record of 27.5 percent set in May.

Unemployment has increased almost four-fold over the past six years and over a million jobs have been lost as Greece has contended with an acute debt crisis. The country has been kept afloat by international bailouts since 2010.

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