Greek Jobless Rate at Fresh 4-Year Low in June


Greek seasonally adjusted unemployment rate declined to 23.4 percent in June 2016, following an upwardly revised 23.6 percent in May and below 24.9 percent a year earlier. It was the lowest figure since March of 2012, as the number of unemployed decreased by 0.6 percent from the previous month while employment increased 0.4 percent.

Compared to the previous month, the number of unemployed decreased by 0.6 percent to 1,124.5 thousand persons while the number of employed increased 0.4 percent to 3,674.9 thousand. The number of inactive went down 0.3 percent to 3,249 thousand persons. A year earlier, the unemployment rate was recorded at 24.9 percent. The number of unemployed persons fell by 6.1 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 47.7 percent of the young active population was unemployed, while decreased 0.5 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.

The unemployment rate for males decreased by 2 percentage points to 19.8 percent from 21.8 percent in June 2015, and for females it was down by 1  percentage points to 27.8 percent when compared to 28.8 percent a year earlier.

Among regions, the highest unemployment rates were reported for Epirus-Western Macedonia (26.8 percent), Thessaly – Sterea Ellas (25.8 percent) and Peloponnese, Western Greece and Ionian Islands (23.8 percent), while Aegean recorded the lowest rate (18.8 percent).

ELSTAT | Yekaterina Guchshina | yekaterina@tradingeconomics.com
9/8/2016 10:37:09 AM