Greek unemployment takes another dive

Greek unemployment takes another dive 1

Greek unemployment takes another dive 2

The Hellenic Statistical Service (ELSTAT) published optimistic unemployment figures on Thursday showing a considerable drop in unemployment.

Specifically, ELSTAT reported that the unemployment rate in November 2018 dropped to 18.5 % from 21.1 % in November 2017 and 18.7 % in October 2018.

Seasonally adjusted, the number of employed in November 2018 amounted to 3,865,670 persons, with unemployed totalling 875,195 and inactive persons (i.e. persons neither working nor looking for a job) totalling 3,218,868. The corresponding figures for November 2017 were 3,727,104 (employed), 995,782 (unemployed) and 3,277,204 (inactive).

In November 2018 the number of employed persons increased by 138,566 persons compared with November 2017 (a 3.7% rate of increase) and by 30,010 persons compared with October 2018 (a 0.8% rate of increase), ELSTAT said.

The number of unemployed persons decreased by 120,587 persons compared with November 2017 (a 12.1% rate of decrease) and by 5,948 persons compared with October 2018 (a 0.7% rate of decrease), while the number of inactive persons decreased by 58,336 persons compared with November 2017 (a 1.8% rate of decrease), the statistical authority said.

GCT Team

This article was researched and written by a GCT team member.