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Unemployment 'stabilising' despite Sept rise

Published:Thursday | December 12, 2013 | 12:00 AM
International Monetary Fund (IMF) Mission Chief Poul Thomsen (centre) arrives for a meeting between Greek government officials and the debt inspectors from the European Central Bank, European Commission, and the IMF, known as the troika, at Greece's finance ministry in Athens, yesterday.

ATHENS (AP):

Greece's statistics office is noting some signs of stabilisation in the labour market, despite a modest increase in the country's unemployment rate in September to 27.4 per cent from the previous month's 27.3 per cent.

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 per cent set in May.

Unemployment has increased almost fourfold 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.