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Greece jobless rate up to 26 percent


February 19. 2013 8:50PM
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(AP) Greece's unemployment rate rose to 26 percent in September, as the country heads toward a sixth year of recession.


The Greek Statistical Authority announced Thursday that 1.295 million people were recorded as being unemployed in September pushing up the jobless rate up from 25.3 the previous month and 18.9 percent a year earlier.


The number of people employed stood at 3,695,053 while another 3,373,692 were listed as financially inactive, according to a statement with September data.


Greek unemployment has surged as a result of harsh austerity measures imposed in return for international rescue loans. The Bank of Greece forecast this week that the country's gross domestic product would contract by more than 6 percent this year, and by a further 4-4.5 percent next year.


Associated Press


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