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The unemployment rate in Greece fell to 16.9% in June from 19.2% in the first quarter according to data by the country’s statistics service ELSAT on Thursday.
About 70.8% of Greece’s jobless are long-term unemployed, meaning they have been out of work for at least 12 months. However, the country’s highest unemployment rate was 27.8% when it was first recorded in the first quarter of 2014.
The data showed that women and young people between the ages of 15 to 19 were the most affected among the unemployed. With the unemployment rate for women being 20.9% compared to 13.7% for men, while the people in the 15-19 age group stood at 41.5%.
June unemployment fell to 17.0%, making it the lowest since May 2011.
Greece’s economy remained on the path to recovery during its April-to-June with its pace of expansion, aided by a boost from net exports and government spending.
Economic growth accelerated to 1.9% year-on-year from a 1.1% clip in the first quarter.
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KYC Policy