Greek unemployment at new record high

Unemployment in Greece rose to a new record high of 27.6 percent in May, leaving almost two thirds of young people without a job, the Hellenic Statistics Authority said Thursday.

The jobless rate rose from 27 percent in April and 23.8 percent in May last year. Young people were by far the worst affected, with unemployment among job-seekers aged 15 to 24 standing at 64.9 percent. Greece has been depending on funds from international rescue loans since May 2010, after years of profligate spending and fiscal mismanagement left it with a massive budget deficit. (AP)