Greek Unemployment Rate Steady at 25% in July

Greek jobless rate remained unchanged at 25 percent in July of 2015, following a downwardly revised 25 percent in the previous month. While unemployment fell slightly, employment remained at the same level.
ELSTAT | Joana Ferreira | 10/8/2015 10:29:54 AM
Compared to June, the number of unemployed declined slightly by 0.2 percent to 1,196,736 persons and employment was barely unchanged at 3,591,407 persons. The number of inactive decreased by 0.1 percent to 3,296,289 persons. 

A year earlier, unemployment rate was recorded at 26.3 percent. The number of unemployed persons fell 5.6 percent while employment rose 0.9 percent. The number of inactive persons declined by 0.3 percent.

Unemployment affected mainly people aged 15 to 24 years in July of 2015 as 48.6 percent of young active population was unemployed. Meanwhile, the unemployment rate for males decreased by 1.8 p.p. to 21.5 percent from 23.3 percent in July 2014 and for females it was down by a slower 0.6 p.p. to 29.4 percent when compared to 30 percent last year.

Among regions, the highest unemployment rates were reported for Epirus-Western Macedonia (27.1 percent) and Peloponnese. Western Greece and Ionian Islands (26.6 percent), while Aegean recorded the lowest rate (18.4 percent).

Greece's economy expanded unexpectedly by 1.7 percent year-on-year and by 0.9 percent quarter-on-quarter in Q2, helped by consumer spending and net exports. However, it is expected to contract in the second half of the year.

Greek Unemployment Rate Steady at 25% in July