Greece's unemployment rate hits 27.4% in September

The unemployment rate in Greece rose to 27.4 per cent in September, up from 27.3 per cent a month earlier, the Statistical Agency said on Wednesday. According to dpa, it said a total of 1.38 million people were out of work, an increase from 1.30 million a year earlier. Greece has implemented unpopular austerity measures demanded by international creditors in exchange for bailout loans. It remains in recession for the sixth-straight year. Creditors resumed negotiations with the Greek government on Wednesday with the aim of finalising as many cost-cutting measures as possible before the end of the year with the hope of finally releasing 1 billion euros (1.37-billion-dollars) of rescue funding.