BUSINESS

Greece's jobless rate jumps to 21.2 percent in fourth quarter

TAGS: Economy, Society

Greece’s jobless rate rose by a full percentage point to 21.2 percent in October-to-December from 20.2 percent in the third quarter, data from the country’s statistics service ELSTAT showed on Thursday.

About 71.8 percent of Greece’s 1.006 million jobless are long-term unemployed, meaning they have been out of work for at least 12 months, the figures showed.

Greece’s highest unemployment rate was recorded in the first quarter of 2014, when joblessness hit 27.8 percent. 

Athens has already published monthly unemployment figures through December, which differ from quarterly data because they are based on different samples and are seasonally adjusted. 

Quarterly figures are not seasonally adjusted. 

Greece’s economy grew for a fourth straight quarter in October-December, driven by stronger investment spending, but the pace was slower than in the previous quarter.

[Reuters]

 

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