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Greek Feb unemployment reaches record high of 21.7 pct
May 10, 2012 / 9:11 AM / 5 years ago

Greek Feb unemployment reaches record high of 21.7 pct

ATHENS, May 10 (Reuters) - Greece’s jobless rate scaled a new record high of 21.7 percent in February, statistics service ELSTAT said on Thursday, as the debt crisis and austerity measures took their toll on the labour market.

Budget cuts imposed by the EU and the IMF as a condition to save the debt-laden country from a chaotic default have caused a wave of corporate closures and bankruptcies.

The gauge rose from a revised 21.3 percent in January.

Unemployment in Greece is more than twice the average jobless rate in the 17 countries sharing the euro, which stood at 10.8 percent in February.

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