Greece Jobless Rate Lowest Since 2012


The Greek seasonally adjusted unemployment rate fell sharply to 22.5 percent in March 2017 from a downwardly revised 22.9 percent in the previous month and compared with 23.8 percent in March 2016. It was the lowest jobless rate since February of 2012, as the number of unemployed decreased 1.8 percent from the previous month to 1.1 million and employment rose 0.3 percent to 3.7 million. Still, Greek unemployment rate is more than double the Eurozone's average of 9.3 percent.

Compared with the previous month, the number of unemployed decreased by 19400 persons or 1.8 percent to 1.10 million and the number of employed rose by 11439 persons or 0.3 percent to 3.7 million. Meanwhile, the number of inactive persons went up 0.2 percent to 3.27 million.

A year earlier, the unemployment rate was recorded at 23.8 percent. The number of unemployed persons fell by 6.5 percent while employment rose by 0.9 percent. The number of inactive persons went up only by 0.2 percent compared with March of 2016.

Unemployment continued to hit mainly people aged 15 to 24, as 46.6 percent of young active population was unemployed, a decrease of 3.4 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 slightly further by 0.7 percentage points to 12.7 percent.

By genders, the unemployment rate for males declined by 0.9 percentage points to 19.1 percent in March and for females fell by 1.9 percentage points to 26.7 percent.

Among regions, the highest unemployment rates were observed for Epirus-Western Macedonia (27.4 percent), followed by Peloponnese, Western Greece and Ionian Islands (23.3 percent), Macedonia-Thrace (22.6 percent), Crete (22.6 percent); while Aegean Islands recorded the lowest rate (17.9 percent).


ELSTAT | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
6/8/2017 3:55:25 PM