Greek Jobless Rate Steady at 23.5% in May


Greek seasonally adjusted unemployment rate came in at 23.5 percent in May 2016, unchanged from the April rate and down from 25 percent a year earlier. The number of unemployed decreased by 0.2 percent from the previous month while employment fell at a faster 0.4 percent.

Compared to the previous month, the number of unemployed decreased by 0.2 percent to 1,123.5 thousand persons while the number of employed fell at a faster 0.4 percent to 3,653.8 thousand. The number of inactive went up 0.5 percent to 3,274.4 thousand persons. A year earlier, the unemployment rate was recorded at 25 percent. The number of unemployed persons fell by 6.2 percent while employment rose by 1.7 percent. The number of inactive persons declined by 0.8 percent.

Unemployment affected mainly people aged 15 to 24 years as 50.3 percent of young active population was unemployed, an increase of 0.3 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 to 64 rose further.

The unemployment rate for males decreased by 2.5 percentage points to 19.5 percent from 22 percent in May 2015 and for females it was down by a meager 0.1 percentage points to 28.5 percent when compared to 28.6 percent a year earlier.

Among regions, the highest unemployment rates were reported for Epirus-Western Macedonia (27.7 percent), Thessaly – Sterea Ellas (26.1 percent) and Macedonia-Thrace (25.1 percent), while Crete recorded the lowest rate (21.2 percent), followed by Aegean (21.8 percent).

ELSTAT | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/4/2016 10:27:43 AM