Greek Jobless Rate Falls to a Fresh 5-1/2-Year Low of 21.2%


The Greek seasonally adjusted unemployment rate dropped to 21.2 percent in June 2017 from a downwardly revised 21.5 percent in the previous month and compared with 23.5 percent in June 2016. It is the lowest jobless rate since December 2011, as the number of unemployed declined by 1.3 percent to 1.02 million from the previous month and employment rose by 0.4 percent to 3.78 million. Still, Greek unemployment rate remains more than double the Eurozone's average.

Compared with May, the number of unemployed decreased by 1.3 percent to 1.02 million and the number of employed rose by 0.4 percent to 3.78 million. Meanwhile, the number of inactive persons went down slightly to 3.22 million.

A year earlier, the unemployment rate was recorded at 23.5 percent. The number of unemployed persons fell by 10.2 percent while employment grew by 2.4 percent. The number of inactive persons dropped by 0.2 percent year-on-year.

Unemployment continued to hit mostly people aged 15 to 24, as 43.3 percent of young inactive population was unemployed, a decrease of 3.2 percentage points from the same month in the previous year. In June, all age groups recorded a lower jobless rate when compared to a year earlier.

The unemployment rate for males declined by 1.9 percentage points to 17.9 percent in June and for females it was down by 2.7 percentage points to 25.3 percent. 

Among regions, the highest unemployment rates were reported for Epirus-Western Macedonia (26.9 percent), followed by Macedonia-Thrace (22.6 percent) and Attica (21.3 percent); while Crete recorded the lowest rate (17.4 percent).

ELSTAT | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
9/7/2017 9:44:57 AM