Greek Jobless Rate At Fresh 4-1/2-Year Low Of 23%


The Greek seasonally adjusted unemployment rate declined to 23 percent in October 2016 from a downwardly 23.1 percent in the previous month. It was the lowest jobless rate since March 2012, as the number of unemployed decreased by 0.7 percent while employment edged down 0.2 percent. A year earlier, the unemployment rate was recorded at 24.5 percent.

Compared with the previous month, the number of unemployed decreased by 0.7 percent to 1,102.3 thousand while the number of employed went down by 0.2 percent to 3,688.4 thousand. The number of inactive persons increased by 0.4 percent to 3,245.5 thousand. 

A year earlier, the unemployment rate was recorded at 24.5 percent. The number of unemployed persons fell by 6.8 percent while employment rose by 1.4 percent. The number of inactive persons declined by 0.2 percent.

Unemployment affected mainly people aged 15 to 24 years old as 44.2 percent of young active population was unemployed, a decrease of 4.6 percentage points from the same month in the previous year. While the majority of age groups recorded a lower jobless rate when compared to a year earlier, the unemployment rate among people aged 55 to 64 and 65 to 74 rose further to 19.3 percent and 11.8 percent, respectively.

The unemployment rate for males decreased by 2.1 percentage points to 19.2 percent from 21.3 percent in October 2015 and for females it was down by 0.9 percentage points to 27.7 percent from 28.6 percent a year earlier.

Among regions, the highest unemployment rates were reported for Epirus-Western Macedonia (26.7 percent) and Thessaly – Sterea Ellas (24.6 percent), while Aegean Islands recorded the lowest rate (19.0 percent).

ELSTAT | Yekaterina Guchshina | yekaterina@tradingeconomics.com
1/12/2017 10:23:40 AM