Greece Jobless Rate Falls to 4-Year Low in April


Greek unemployment rate decreased to 23.3 percent in April of 2016 from a downwardly revised 23.7 percent in the previous month. It was the lowest figure since March of 2012, as the number of unemployed persons decreased by 20.9 thousand to 1.11 million people while employment rose by 25.6 thousand to 3.67 million. A year earlier, the unemployment rate was recorded at 25.3 percent.

Compared to the previous month, the number of unemployed decreased by 1.8 percent to 1,115.4 thousand persons while the number of employed rose by 0.7 percent to 3,676.8 thousand. The number of inactive declined by 0.2 percent to 3,262 thousand persons. A year earlier, the unemployment rate was recorded at 25.3 percent. The number of unemployed persons fell by 7.5 percent while employment rose by 3.0 percent. The number of inactive persons dropped by 1.7 percent.

Unemployment affected mainly people aged 15 to 24 years as 47.4 percent of young active population was unemployed, a decrease of 4.3 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 and 64 increased to 19.3 percent from 17.2 percent and 65 to 74 rose further to 12.5 percent from 10.7 percent.

The unemployment rate for males decreased by 0.9 percentage points to 19.3 percent from April last yeat and for females it was down by 0.8 percentage points to 28.2 percent.

Among regions, the highest unemployment rates were reported for Epirus-Western Macedonia (27.6 percent), Thessaly – Sterea Ellas (26.9 percent) and Macedonia-Thrace (25.1 percent), while Aegean continued to record the lowest rate (15.4 percent).

ELSTAT | Yekaterina Guchshina | yekaterina@tradingeconomics.com
7/7/2016 10:24:21 AM