UNEMPLOYMENT

Jobless rate falls to 13.9% in August

jobless-rate-falls-to-13-9-in-august

The unemployment rate posted a remarkable three-percentage point annual drop in August to 13.9%, according to figures published on Wednesday by the Hellenic Statistical Authority (ELSTAT).

It also posted a marginal decline of 0.1 percentage point from July’s rate, though this year the third wave of the pandemic meant a late start to the tourism season.

The end of furloughs with the expiry of restrictions has resulted in a reduction in the size of the financially inactive population, which had been growing while workers were prevented from working due to the forced contract suspensions.

ELSTAT data showed that 3,131,793 people were financially inactive in August, 52,503 or 1.6% less than July 2021, and 128,326 people or 3.9% less than August 2020.

The jobless figure came to 655,644 in August, 128,293 people or 16.4% less than a year earlier. That was also 1,035 fewer people than in July 2021. 

The number of employed workers came to 4,070,814 in August, 226,985 or 5.9% more year-on-year, and 50,927 or 1.3% more than in July.