Greece’s unemployment hit a record 21.8% in January, double the average for the euro zone.
Reuters reported Thursday that the statistics service ELSTAT said its figures also showed that the country’s average annual unemployment rate for 2011 ballooned to 17.7% from an average rate of 12.5% in 2010. The rate for December of 2011 was 21.2%.
Young people had it especially hard. More young people in Greece are out of work than employed. ELSTAT said that, for the second consecutive month, those 15 to 24 years old had an unemployment rate of 50.8%. That is twice as high as it was only three years ago.