Greek Unemployment Near 21%

The latest unemployment report for the 17 Eurozone countries revealed that unemployment in Greece hit a record 20.9% in November 2011. Among all Eurozone nations, the unemployment rate rose from 10.3% in October to 10.4% in November.

As the country continues to cut spending and adopt austerity measures in order to satisfy Eurozone conditions for additional bailout help, the employment situation is likely only to get worse. It’s difficult to see how that helps Greeks and the country’s economy get out of the hole they’re in.