This what you want for America?
Unemployment in Greece hit a record high of 25.1 percent in July as the country’s financial crisis continues to exact its heavy toll, official figures showed Thursday.
All indications are that unemployment in Greece will continue to rise. The economy has shrunk by around a fifth since the recession started in 2008 and youth unemployment has pushed way above 50 percent. The economy is expected to enter a sixth year of recession next year.
“This is a very dramatic result of the recession,” said Angelos Tsakanikas, head of research at Greece’s IOBE economic research foundation.
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