Greek unemployment rate stable at 12.8%

Greek unemployment rate OAED

The unemployment rate in Greece fell to 12.8% in January 2022 from 16.2% in the same month last year, however this remains unchanged from December 2021.

According to the Hellenic Statistical Authority, the number of unemployed people totaled 587,152, down 12,563 from January 2021 (-17.4%) and down 7,100 from December 2021 (-1.2%).

The unemployment rate among women was 16.9%, from 19.8% in January 2021, while among men it fell to 9.6% from 13.3%, respectively.

The unemployment rate in the 15-24 age group was 32.6% in January 2022 from 45.2% in January 2021 and fell to 11.9% from 14.6%, respectively in the 25-74 group.

The number of employed people totaled 3,995,622 in January, up 8.5% from January 2021, but down 1.7% from December 2021.

Meanwhile, a three-month package of additional support measures against price hikes in energy costs for households and low income earners will be outlined in detail on Thursday morning by the relevant ministers, Prime Minister Kyriakos Mitsotakis said.

“The ministers of finance, energy and rural development will present these measures, which,” Mitsotakis noted during his Wednesday nights televised address to the nation on Wednesday evening, concern “the most vulnerable citizens and the middle class.”

These measures, “worth 1.1 billion euros, will provide relief for 3.2 million vulnerable citizens, but also households with an income of up to 30,000 euros per annum.”

He referred to low income workers, families and pensioners as those who currently need an income boost the most.

Mitsotakis also mentioned a “brave state subsidy for power bills, and a partial absorption of price hikes in fuel costs, covering for up to 180 litres worth of car mobility costs.”

These are combined with specific relief measures for farmers and small-to-medium sized enterprises, “which are afflicted the most by high electricity bills.”

A new, reduced property tax (ENFIA) was also mentioned by Mitsotakis, as was a second minimum wage increase.

This all comes in the context of the government’s running support initiative which has already seen some 2.6 billion euros in state funds so far funnelled towards tackling this energy crisis, he added.

Russia’s invasion in Ukraine brought back war in Europe, he noted, and “it also gave rise to an immense crisis in energy costs, threatening prosperity across all societies.”

READ MORE: GREEK ECONOMY: State budget revenues miss target, changes in property tax.