Greece Unemployment Rate Drops to 25% in May


Greek jobless rate edged down to 25 percent in May of 2015 from 25.6 percent in the previous month. It was the lowest figure since June of 2012, as unemployment went down while employment rose at a faster pace.

The number of unemployed declined 1.3 percent to 1,200,981 persons and employment increased by 1.8 percent to 3,604,102 persons. The number of inactive decreased 1.6 percent to 3,286,476 persons in May. 

A year earlier, unemployment rate was recorded at 27 percent. The number of unemployed persons fell 7.6 percent while employment rose 2.3 percent. The number of inactive persons declined 1 percent.

Unemployment affected mainly people aged 15 to 24 years in April of 2015 as more than half of young active population was unemployed (51.8 percent). Youth unemployment rate was recorded at 53.2 in the previous month and at 53.1 percent a year earlier.

The unemployment rate for males decreased 1.4 p.p. to 22.4 percent from 23.8 percent in May 2014 and for females it was down by a faster 2.7 p.p. to 28.2 percent when compared to 30.9 percent last year.

ELSTAT | joana.ferreira@tradingeconomics.com
8/6/2015 10:24:05 AM