// IP Marketing video - START// IP Marketing video - END

Greece's unemployment rate rises to 26 percent

Greece's unemployment rate rises to 26 percent

PanARMENIAN.Net - Greece's unemployment rate rose to 26 percent in September, as the country heads toward a sixth year of recession, AP reports.

The Greek Statistical Authority announced Thursday that 1.295 million people were recorded as being unemployed in September — pushing up the jobless rate up from 25.3 the previous month and 18.9 percent a year earlier.

The number of people employed stood at 3,695,053 while another 3,373,692 were listed as financially inactive, according to a statement with September data.

Greek unemployment has surged as a result of harsh austerity measures imposed in return for international rescue loans. The Bank of Greece forecast this week that the country's gross domestic product would contract by more than 6 percent this year, and by a further 4-4.5 percent next year.

 Top stories
“The investments will be spent to build a canning factory and slaughterhouses, expand greenhouse farms,” Ignati Arakelyan said.
The funding will go to a subsidiary of ContourGlobal, an international power-generation company that acquired the Vorotan Cascade in 2015.
"We are yet unable to disclose the names of companies we are conducting negotiations with," Satenik Hovhannisyan said.
1,259,657 tourists have arrived in Armenia in January-December 2016, the National Statistical Service said, up by 5,7% on the year before.
Partner news