Unemployment rate eases to 18.9 pct
Greece’s unemployment rate dropped to 18.9 percent in August 2018, according to Hellenic Statistical Authority (ELSTAT) figures released yesterday. In July, the unemployment rate came to 19.1 percent, while in August last year it was 20.8 percent. Data from the country’s statistics service showed that the rate of unemployed among young people aged up to 24 years old fell to 36.8 percent from 40.4 percent in the same month in 2017. According to ELSTAT, the workforce in Greece grew by 85,997 persons in August this year compared with August 2017 and by 25,249 compared with July this year. The number of unemployed people decreased by 95,760 in August 2018 compared with last August and by 7,886 compared with July 2018. During the bailout programs of the last eight years, Greece saw its unemployment rate hit a record high of 27.9 percent in September 2013.