ECONOMY

Unemployment rate increases in Q1 to 17.1 pct

unemployment-rate-increases-in-q1-to-17-1-pct

The unemployment rate in the first quarter of the year reached 17.1 percent, up from 16.2 percent in the previous quarter and in the same period last year, according to data from the Hellenic Statistical Authority (ELSTAT).

In its latest quarter labor force survey, ELSTAT said the number of people in employment – 3,625,061 – had fallen by 6.5 percent on the pervious quarter and 5.9 percent year-on-year. 

The survey noted that in line with EU guidelines, due to Covid-19 “persons who are subject to a suspension of their contract are still considered to be employed, if the suspension period is less than 3 months or if they receive more than 50 percent of their remuneration.”

The number of unemployed people amounted to 745,414, a decrease of 0.6 % compared to the previous quarter and with no significant change compared to the same quarter of 2020. 

The number of individuals outside the labor force, defined as people who are neither working nor looking for a job, amounted to 4.7 million, 3.5 million of whom were under the age of 75. Their share increased by 7.7 % compared with the previous quarter and by 5.9 % compared to the same period in 2020.

The regions of Central Greece, Southern Aegean and Crete recorded the highest unemployment rates while the Peloponnese, Northern Aegean and Attica registered the lowest.