Greek Jobless Rate at 24.6% in November


Greek unemployment rate decreased slightly to 24.6 percent in November of 2015 from an upwardly revised 24.7 percent in the previous month. It remained at its lowest level since May of 2012, as the number of unemployed persons declined by 0.3 percent while the number of employed persons was virtually unchanged.

Compared to October 2015, the number of unemployed decreased by 0.3 percent, to 1,180,516 persons while the number of employed was virtually unchanged at 3,620,750 persons. The number of inactive was also steady at 3,269,077 persons. A year earlier, the unemployment rate was recorded at 25.9 percent. The number of unemployed persons fell by 4.5 percent while employment rose by 2.3 percent. The number of inactive persons declined by 2.1 percent.

Unemployment continued to affect mainly people aged 15 to 24 years as 48 percent of young active population was unemployed, a decrease of 3.4 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 25 to 34 and people aged 55 to 64 rose further.

The unemployment rate for males decreased by 2.1 percentage points to 20.8 percent from 22.9 percent in November 2014 and for females it was down by a much slower 0.3 percentage points to 29.3 percent when compared to 29.6 percent last year.

Among regions, the highest unemployment rates were reported for Thessaly – Sterea Ellas (28.4 percent) and Epirus-Western Macedonia (27.1 percent), while Aegean recorded the lowest rate (12.2 percent).

Greece's economy is expected to contract by 0.9 percent quarter-on-quarter in Q4 2015.

ELSTAT | Joana Ferreira | joana.ferreira@tradingeconomics.com
2/11/2016 10:29:28 AM