ECONOMY

Jobless rate on the up again

jobless-rate-on-the-up-again

Despite a spike in tourism arrivals, unemployment started inching up again in June, coming to 25.2 percent compared to 25 percent in May, according to figures released on Thursday by the Hellenic Statistical Authority (ELSTAT).

This figure does not incorporate the full impact on the economy of the bank shutdown and the capital controls imposed on June 28.

The Finance Ministry is waiting for the data on the jobless rate in July and August before making any secure forecasts as to the level of unemployment for 2015 as a whole.

Several economists expect the jobless rate to spiral out of control in the second half of the year.