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Greece's unemployment rate hits 25%

Greece's statistics agency says unemployment rose to 25.4 per cent in August, increasing from 24.8 per cent in July as the country struggles through a deep recession.

The numbers mark a significant leap from the 18.4 per cent jobless rate in the same month last year. More than 1.2 million people in this country of barely 10 million are now unemployed, the statistics agency said today.

More than half, 58 per cent, of all young people aged 15-24 are unemployed, the figures showed.

The numbers were released a day after Greece's parliament narrowly passed a deeply unpopular austerity bill that will further cut salaries and pensions.

The approval of the measures was a key step for Greece to be given the next instalment of its vital bailout loans.

The Canadian Press


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