ECONOMY

Unemployment falls to 13.3% in October

unemployment-falls-to-13-3-in-october

The jobless rate posted a considerable decline in October compared to a year earlier, shrinking from 16.4% to 13.3%, although in comparison to September there was a 0.3% rise, according to the Hellenic Statistical Authority (ELSTAT).

The number of employed people amounted to 4,027,050, up 97,774 or 2.5% from October 2020, but down 47,982 or 1.2% from September this year, with the termination of seasonal employment at the end of the summer season leaving its mark on the labor market, as it does every year.

The unemployed numbered 617,511 in October, down 154,587 or 20% from a year earlier, but up 5,994 or 1% from September 2021. The number of people not seeking work came to 3,208,499, up 25,547 or 0.8% from a year earlier and up 39,166 or 1.2% from September.

Interestingly, October was the second consecutive month when the unemployment rate for men came in at below 10%: It amounted to 9.9%, after reaching 9.8% in September; that is considerably lower than the jobless rate among women, which stood at 17.5% in October.

The most vulnerable age group, that of 15-24-year-olds, had a rate of 32.1%, down from 35.4% last year.