News Summary: Greek joblessness rises in March

AP News
|
Posted: Jun 07, 2012 1:49 PM
News Summary: Greek joblessness rises in March

GROWING JOBLESSNESS: Greece's unemployment rate rose to 21.9 percent in March from 21.4 percent in February. It rose sharply from 15.7 percent in March 2011.

CONTEXT: Greece has been struggling through a financial crisis for two years, and has been relying on billions of euros in international rescue loans. In return for the money, it has cut spending and raised taxes, leaving the country mired in a deep recession.

YOUTH PAIN: Young people have been the most affected by the job losses, with more than half of 15- to 24-year-olds unemployed in March.