Mar­ginal de­cline in unem­ploy­ment

Kathimerini English - - Focus -

Greece’s job­less rate eased to 19 per­cent in July from 19.1 per­cent in the pre­vi­ous month, fall­ing to its low­est level since Au­gust 2011, data from the coun­try’s sta­tis­tics ser­vice ELSTAT showed yes­ter­day. Sea­son­ally ad­justed data showed the num­ber of un­em­ployed at 897,861 peo­ple, with peo­ple aged 15 to 24 hard­est hit by job­less­ness. Among 1524-year-olds, the unem­ploy­ment rate fell to 37.9 per­cent from 41.1 per­cent in the same month in 2017. Greece’s job­less rate, which hit a record high of 27.9 per­cent in Septem­ber 2013, has been com­ing down since but re­mains the high­est in the euro­zone. The gov­ern­ment ex­pects unem­ploy­ment to fall to 18.4 per­cent this year be­fore eas­ing fur­ther to 18.2 per­cent next year as the econ­omy re­cov­ers, based on pro­jec­tions in its 2019 bud­get. Greece’s econ­omy ex­panded for a sixth straight quar­ter in April-toJune but at a slower pace than the quar­ter be­fore. Unem­ploy­ment in the 19 coun­tries shar­ing the euro was sta­ble at 8.2 per­cent in July ac­cord­ing to Euro­stat.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.