According to the Greek Statistical Authority (ELSTAT), in the 4th Quarter of 2012 the number of employed amounted to 3,681,926 personswhile the number of unemployed amounted to 1,295,535. The unemployment rate was 26.0% compared with 24.8% in the previous quarter, and 20.7% in the corresponding quarter of 2011.

The number of employed persons decreased by 1.5% compared with the previous quarter, and by 6.4% compared with the 4th Quarter of2011. The number of unemployed persons increased by 5.2% compared with the previous quarter and by 26.3% compared with the 4th Quarter of 2011.

The figures revealed that the number of employed people stood at 3.7 million out of a population of nearly 11 million. About one million Greeks have lost their jobs since the recession erupted in 2008.

Athens has announced plans to cut an additional 150,000 public sector jobs by 2015, including 25,000 before the end of the current year.

The unemployment rate for females (29,7%) is considerably higher than the unemployment rate for males (23.3%). By observing the unemployment rate for different age groups, we notice that the highest unemployment rate is recorded among young people in the age group of 15-24 years (57.8%). For young females, the unemployment rate is 65.0%.

The country relies on international rescue loans, released on condition it imposes austerity measures like spending cuts and tax hikes.

The heavily-indebted country has been in recession since 2008, with unemployment continuously on the rise.

The official number of people employed is 3,843,905, while the unemployed amounted to 1,075,081 with young young people mostly affected, as the unemployment rate for those aged between 15 and 24 years now exceeds one in two (52.8 percent), while one in three aged between 15 and 44 are also without work, according to Kathimerni.

The official figure of women without work was 25.8% in March, compared with 19.2% in 2011. The region with the highest unemployment level was Macedonia, at 24.3%.

Greece has been entered its fifth year of recession, and has been relying on billions of euros in international rescue loans from other eurozone countries and the International Monetary Fund since May 2010. In return, austerity measure and  major tax hikes have been imposed, deepening the country’s recession.

Unemployment in Greece is almost twice the average jobless rate in the 17 countries sharing the euro, according to Reuters. 

Fears that Greece might default on its debts or even leave Europe’s currency union have deepened since May 6. No party won an outright majority on May 6 and coalition talks collapsed after 10 days, forcing the country into new elections on June 17.