Unemployment in Greece continues sharp decline

Unemployment figures released on Friday by Eurostat indicated the Greek unemployment rate was 18.5% in November 2018, from 18.7% in October.

In its report, the EU executive’s statistics agency said that Greece and Cyprus recorded the largest decline in the unemployment rate compared with November 2017 (from 21.1% to 18.5% and from 10.1% to 7.4%, respectively).

The number of unemployed people in Greece was 875,000 in November, with unemployment among men at 14.3% and among women at 23.7%. The unemployment rate among young people (aged below 25 years old) fell to 39.1% in November.

In the Eurozone, the unemployment rate was 7.8% in January, unchanged from December, but down from 8.6% in January 2018, the lowest since October 2008. In the EU, the unemployment rate was 6.5% in January from 6.6% in December 2018 and 7.2% in January 2018, the lowest since 2000.