Greek unemployment falls to 25.8 pct in October

Greece’s jobless rate fell to 25.8 percent in October from an upwardly revised 26 percent rate in September as the economy emerged from a six-year recession, Greek statistics agency ELSTAT said on Thursday.

October’s reading was the lowest since August 2012 when unemployment stood at 25.5 percent. The record high was set in September 2013, when unemployment hit 28 percent.

Greece’s unemployment is coming down from record highs as the economy stabilizes after a severe slump but remains more than double the euro zone’s average of 11.5 percent in October.

Greece’s economy is projected to have expanded by 0.6 percent last year, with recovery expected to gain traction this year to 2.9 percent.