ECONOMY

Greek jobless rate drops to 16.4 percent in third quarter

greek-jobless-rate-drops-to-16-4-percent-in-third-quarter

Greece's jobless rate fell to 16.4 percent in July-to-September from 16.9 percent in the second quarter, data by the country's statistics service ELSTAT showed on Friday.

About 73.6 percent of Greece's 777,000 jobless are long-term unemployed, meaning they have been out of work for at least 12 months, the figures showed.

Greece's highest unemployment rate was recorded in the first quarter of 2014, when joblessness hit 27.8 percent.

The data showed that women and young people in the 15-19 age group were most affected among the unemployed. The jobless rate for women was 20.5 percent versus 13 percent for men in the third quarter, while for people aged 15-19 it stood at 39.4 percent. [Reuters]