Jobless rate decreases to 12.5% in May

Jobless rate decreases to 12.5% in May

Unemployment saw another slight drop in May, according to Hellenic Statistical Authority (ELSTAT) data, as it stood at 12.5%, ​​from 12.6% a month ago and 15.6% in May 2021.

The 12.5% rate ​​brings unemployment back to September 2010 levels. According to ELSTAT, after starting at 9.4% in January 2009, unemployment peaked at 28% in March 2013 before starting on a downward trajectory until November 2019, when it reached 17.6%. It then made a temporary jump to 19.5% in 2020, only to resume its southbound slide.

It is noted that in the Stability Program, the government estimated unemployment would average at 13.9% this year, from 14.7% in 2021. It is expected to decrease to 12.2% in 2023, to 11.2% in 2024 and to 10.2% in 2025.

In unemployment, however, there is no equality. For men, the percentage is just 9.2%, having dropped to half of the 2017 level (18.5%). Among women, on the contrary, the rate is 16.5%, marking a decrease of only 37% from the level of 26.7% in 2017. Also, the problem of youth unemployment remains acute: It stands at 30.1% for the 15-24 age group, against 11.5% for 25-74-year-olds. 

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