Greece:Unemployment falls to 25.7 per cent in September

Unemployment falls to 25.7 per cent in September

Good news, but things are still not looking up in the Greek job market.

September’s reading was the lowest since August 2012.

Greece’s jobless rate fell to 25.7 per cent in September from a upwardly revised 26 per cent rate in August as the country’s six-year recession eases, Greek statistics agency ELSTAT said on Thursday.

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

Greece’s unemployment is coming down from record highs as the economy stabilises after a severe six-year recession but remains at more than double the euro zone average of 11.5 per cent in September. The Greek economy is projected to expand by 0.6 per cent this year.

Source: Reuters

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.