The unemployment rate in Greece rose in May to 27.6 percent, a new historic high, surpassing the previous record of 27 percent from April, according to official data released on Thursday.
The unemployment figure for May is the highest since the Greek national statistical office ELSTAT began publishing these reports in 2006 and is double the average unemployment rate in the eurozone of 12.1 percent. The record unemployment in Greece is a result of a six-year recession, as well as radical austerity measures implemented by the government to reduce accumulated public debt. Greece has been surviving since 2010 thanks to financial assistance from the International Monetary Fund and partner countries in the eurozone. To continue receiving international aid, foreign lenders are demanding that Athens implement unpopular reforms, which include higher taxes and a reduction in public sector employment.
