BUSINESS

Greek unemployment dips to 19.1 pct in June

TAGS: Economy

Unemployment among young people aged below 24 years old dropped below the 40 percent mark for the first time in years this June, while overall joblessness contracted to 19.1 percent, the Hellenic Statistical Authority (ELSTAT) reported on Thursday.

According to ELSTAT's Labor Force Survey for June, the seasonally adjusted unemployment rate in June was 19.1 percent compared with 21.3 percent in the same month last year and the downward revised 19.3 percent of May this year. Specifically, the number of employed people in June amounted to 3,863,337 and the unemployed amounted to 909,258, while so-called inactive people came to 3,203,945.

Compared with June 2017, the number of employed increased by 83,866 persons compared (2.2 percent), the unemployed dropped by 112,401 persons (11 percent) and the number of inactive persons – those without work who are not looking to work – shrank by 7,969 (0.2 percent).

Unemployment among women declined to 23.8 percent this June from 25.5 percent last June, though it still remains much higher than among men (15.3 percent in June 2018 from 17.9 percent in June 2017).

In terms of age groups, the highest rate of unemployment is still among 15-24 year-olds (39.1 percent this June from 43.4 percent last June), followed by the 25-34 age bracket (23.2 percent from 27.3 percent), the 35-44 category (17.6 percent from 19 percent), those aged 45-54 (16.1 percent from 16.8 percent), the 55-64 bracket (15.1 percent from 17.1 percent) and 65-74 year-olds (10.1 percent από 12.6 percent).

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