Greek jobless rate posts marginal drop

TAGS: Economy

Greece’s official jobless rate posted another marginal decline in June, while the Hellenic Statistical Authority (ELSTAT) revised upward the May figure.

The seasonally adjusted unemployment rate came to 23.4 percent in June, from 23.6 percent in May (up from a previous estimate of 23.5 percent), and from 24.9 percent in June 2015.

The sum of employed people came to 3,674,957 in the first month of the summer, while the unemployed reached 1,124,541 and the financially inactive population numbered 3,249,057.

While the ELSTAT data showed a decline in the jobless rate among young people (aged up to 25 years) from 48.2 percent in June 2016 to 47.7 percent this year, there is an increase recorded in the ages between 55 and 64 years: The rate grew from 16.5 percent last year to 19.3 percent this year, as it appears unemployment becomes bigger in the ages closer to retirement. In the 65-74 age group unemployment also grew, but only marginally, from 12.3 percent last year to 12.4 percent in June 2016.

The biggest problem remains among women, who had a 27.8 percent rate against a 19.8 percent rate among men. The region with the highest rate is Epirus-Western Macedonia with 26.8 percent, followed by Central Greece with 25.8 percent.

Kathimerini understands that in August the hirings register of the Labor Ministry’s Ergani system has shown a reversal of the growth in jobs seen up to July, as departures outnumbered hirings.