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Greek unemployment hits lowest point in three years

09/01/2016 Economy , Inside Pages
Greek unemployment hits lowest point in three years

The number of unemployed people amounted to 1,175,903, easing by 71,492 compared with October 2014

The Greek statistics authority ELSTAT has documented a minor drop in the rate of unemployment for October, based on its latest figures on the country’s labor force.

The seasonally adjusted unemployment rate in October 2015 eased at 24.5% vs 26% in October’14 and 24.6% in September’15, according to Hellenic Statistic Authority data.

Lowest since May 2012

This is the lowest rate of unemployment since May 2012, when the rate was 24%. Unemployment peaked in September 2013 when it reached 27.9%.

Furthermore, the number of employed in Oct’15 rose by 2.4% y-o-y and fell  by 0.1% m-o-m, while the number of unemployed decreased by 5.7% y-o-y and by 0.7% m-o-m.

The number of unemployed people amounted to 1,175,903, easing by 71,492 compared with October 2014 (a decline of 5.7 pct) and by 8,289 compared with September 2015 (a decline of 0.7 pct). The number of employed people totaled 3,630,449, up 86,295 compared with October 2014 (up 2.4 pct) but down by 2,191 compared with September (a decline of 0.1 pct).

Unemployment in different categories

The unemployment rate among women was 28.7 pct in October, down from 29.6 pct in October 2014, while among men it fell to 21 pct from 23.2 pct over the same months respectively.

The unemployment rate in the 15-24 age group fell to 48.6 pct in October, form 51.3 pct last year, in the 25-34 age group it fell to 30.9 pct from 34.2 pct, in the 35-44 age group it rose to 22.7 pct from 22.3 pct, in the 45-54 age group it fell to 19.6 pct from 20.8 pct, in the 55-64 age group it eased to 16.2 pct from 16.6 pct and in the 65-74 age group it fell to 10 pct from 12 pct.

Epirus-Western Macedonia (27.4 pct in October form 25.8 pct in October 2014) recorded the highest unemployment rate among the country’s regions, followed by Thessaly-Central Greece (27.3 pct, 26.2 pct), Attica (25.1 pct from 26.9 pct), Crete (24.9 pct from 22.4 pct), Macedonia-Thrace (24.8 pct from 27.4 pct), Peloponese-Western Greece-Ionian Islands (23.9 pct from 24.9 pct) and Aegean (14.7 pct from 21 pct).


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