ECONOMY

Jobless rate falls to 11-year low

Jobless rate falls to 11-year low

Greece’s jobless rate came to 12.8% in December 2021, posting a significant decline both compared to the 13.4% rate of December 2020 and, mainly, the 15.5% figure of November 2020, according to official figures the Hellenic Statistical Authority (ELSTAT) released on Wednesday.

Therefore 2021 has ended on a most promising note, as despite having started with a rate of 16.3% in January and peaking at 17.3% in April, it embarked on a downward course in May.

The last time Greek unemployment was below 13% was in September 2010 (at 12.6%), which was when it started its long ascent to reach 28% in September 2013.

The number of unemployed dropped below 600,000 in December 2021, in a year strongly affected first by the tight restrictions against the pandemic and then by the reopening of the economy and the unexpectedly positive tourism season.

Although the figures are not comparable, Manpower Organization (OAED) announced that its registered unemployed numbered 1,109,366 in December.

The jobless rate among people aged 15-24 years amounted to 27%, while those above that age (25-74) had a 12.1% unemploymentrate.