Unemployment in Greece reaches 27.4% in the first quarter

Unemployment in Greece reached 27.4% in the first quarter of 2013, compared to 26% in the previous quarter and 22.6% in the corresponding quarter of 2012, according to data from the Hellenic Statistical Authority.

This is the highest unemployment rate since 1998, with unemployed expected to reach 1,355,237 people.

Youth unemployment rose to 60% in the first quarter of 2013, compared to 52.7% in the corresponding quarter last year, while unemployment in young women reached 66.3%.

Employment fell by 2.3% over the previous quarter and by 6.3% compared to the first quarter of 2012.