BUSINESS

Greek unemployment rises to 26.8 pct in October [update]

Greece's unemployment rate rose to 26.8 percent in October 2012, the country's statistics agency said on Thursday.

The jobless rate was 19.7 percent in October 2011 and 26.2 percent in September 2012, the Hellenic Statistical Authority (ELSTAT) said in a statement.

The number of unemployed increased by 368,102 persons (a 37.7 percent rate of increase) compared with October 2011 and by 36,219 persons compared with September 2012 (a 2.8 percent rate of increase), ELSTAT said. Τhe number of unemployed amounted to 1,345,715 while the number of inactive to 3,344,478 people.

Data showed youth unemployment stood at 56.6 percent in October 2012 compared to 46.7 percent in 2011 and 34.7 percent in 2010.

Figures showed the unemployment rate among women was 30.4 percent, compared with 23.1 percent in October 2011. The rate for Greeks aged 15 to 24 was 56.6 percent, up from 46.7 percent a year earlier.

The highest regional jobless rate was in Attica, which includes the capital Athens and is the country’s largest region in terms of population, at 28.3 percent, the statistical service said.

The lowest rate was on Aegean Sea islands, including the popular holiday destinations of Mykonos and Santorini, at 16.9 percent.

Meanwhile, a report by the IOBE research center Thursday said that Greek unemployment is expected to reach 27.3 percent in 2013

[Combined reports]

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