March 5, 2015 / 10:40 AM / 4 years ago

Greek unemployment edges up to 26 percent in December

People take part in an anti-austerity demonstration outside a conference hall holding the European Central Bank (ECB) Governing Council meeting in Nicosia March 4, 2015. REUTERS/Yiannis Kourtoglou

ATHENS (Reuters) - Greece’s jobless rate rose to 26 percent in December from an upwardly revised 25.9 percent rate in the previous month as the economy shrank slightly in the last quarter of 2014, statistics agency ELSTAT said on Thursday.

December’s reading, based on seasonally adjusted data, is the lowest since September 2014 when unemployment stood at 26.1 percent. The record high was set in September 2013, when unemployment hit 27.9 percent.

Joblessness has come down from record highs as the economy stabilized last year after a severe slump but it remains more than double the euro zone’s average of 11.3 percent in December.

Greece’s economy expanded by 0.7 percent last year, with recovery expected to gain traction this year.

Reporting by George Georgiopoulos

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