Greece's unemployment rate increased for the eighth consecutive month in February to a new record of 15.9 per cent, the Hellenic Statistical Authority (ELSTAT) said Thursday, according to dpa. The unemployment rate was 15.1 in January and 12.1 per cent a year ago. The government has committed itself to a series of reforms, such as pay cuts and tax increases, as part of an austerity package agreed with the European Union and the International Monetary Fund in exchange for a 110-billion-euro (140-billion-dollar) bailout. Parliament is expected to vote on a 2012-15 programme of additional budget cuts in an effort to raise 23 billion euros (33 billion dollars) to meet its deficit reduction targets later this month.
