Greek Unemployment Rate Steady At Nearly 5-Year Low


The Greek seasonally adjusted unemployment rate came in at 23.1 percent in December 2016, unchanged from November's revised figure and down from 24.1 percent in December 2015. The jobless rate remained at its lowest level since March 2012, as the number of unemployed decreased by 0.2 percent from the previous month and employment fell 0.3 percent while the number of inactive persons rose 0.3 percent.

Compared with the previous month, the number of unemployed decreased by 0.2 percent to 1.10 million while the number of employed fell by 0.3 percent to 3.66 million. Meanwhile, the number of inactive persons rose 0.3 percent to 3.27 million.

A year earlier, the unemployment rate was recorded at 24.1 percent. The number of unemployed persons fell by 5.2 percent while employment rose only by 0.3 percent. The number of inactive persons increased by 0.4 percent.

Unemployment contninued to affect mainly people aged 15 to 24, as 45.2 percent of young active population was unemployed, a decrease of 4.9 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 19.4 percent and 13.2 percent, respectively.

The unemployment rate for males decreased by 1.4 percentage points to 19.5 percent in December and for females it was down by 0.6 percentage points to 27.6 percent.

Among regions, the highest unemployment rates were reported for Epirus-Western Macedonia (26.8 percent), followed by Peloponnese, Western Greece and Ionian Islands (23.9 percent), Thessaly – Sterea Ellas (23.7 percent) and Macedonia-Thrace (23.7 percent); while Aegean Islands recorded the lowest rate (19.5 percent).

ELSTAT | Joana Ferreira | joana.ferreira@tradingeconomics.com
3/9/2017 10:20:47 AM