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Greek Unemployment Rate Declines

The unemployment rate in Greece dropped to 24.6% in the second quarter of this year, compared to 26.6% in the initial three months of 2015, as confirmed by the nation's statistical firm.

Greece's largest jobless figure finalized at 27.8% in the initial quarter of last year, while approximately 71.4% of the country's 1.16 million unemployed citizens have been out of work for one year or more.

Greece's financial predicament and austerity measures enacted by global lenders, eliminated an approximated 25% of the economy, resulting in an extremely high unemployment rate.

The Hellenic Republic's economy enlarged by 0.9% in the second quarter of 2015, assisted by exports and consumerism. However, it is creeping back into a recession in the last six months of the year.

(Source: Reuters)