Greek Unemployment Rate Falls To 23.2% In February


The Greek seasonally adjusted unemployment rate fell to 23.2 percent in February 2017 from a downwardly revised 23.3 percent in the previous month and compared with 23.9 percent in February 2016. The jobless rate reached its lowest level since September last year, as the number of unemployed decreased by 0.6 percent from the previous month to 1.1 million and employment rose by 0.2 percent to 3.7 million. Still, Greek unemployment rate remains more than double the Eurozone's average.

Compared with the previous month, the number of unemployed decreased by 0.6 percent to 1.10 million and the number of employed rose by 0.2 percent to 3.66 million. Meanwhile, the number of inactive persons edged down 0.1 percent to 3.26 million.

A year earlier, the unemployment rate was recorded at 23.9 percent. The number of unemployed persons fell by 3.8 percent while employment rose by only 0.2 percent. The number of inactive persons was nearly unchanged compared with February 2016.

Unemployment contninued to affect mainly people aged 15 to 24, as 47.9 percent of young active population was unemployed, a decrease of 2.7 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 65 to 74 rose further by 3.6 percentage points to 14.8 percent.

The unemployment rate for males decreased by 0.6 percentage points to 19.7 percent in February and for females it was down by 0.9 percentage points to 27.5 percent.

Among regions, the highest unemployment rates were reported for Epirus-Western Macedonia (27.6 percent), followed by Thessaly – Sterea Ellas (24 percent) and Peloponnese, Western Greece and Ionian Islands (23.8 percent); while Aegean Islands recorded the lowest rate (17.7 percent).

ELSTAT | Joana Ferreira | joana.ferreira@tradingeconomics.com
5/11/2017 9:49:06 AM