The jobless rate in Greece fell shy of 2 percentage points in August this year, settling at 9.5%, compared to the revised 11.4% rate for the same month in 2023, according to a Tuesday press release by the country’s statistical authority, ELSTAT.
The female unemployment rate continued to outstrip that of males, reaching 11.6% against 7.7%, while youth unemployment remains high, as people in the 15 to 24 age group recorded the highest rate at 19.4%. The lowest jobless rate at 8.9% was recorded in the 25-74 age group.
The number of employed individuals reached 4,252,488, marking an increase of 103,054 people compared to August 2023 (2.5%) and an increase of 30,064 people compared to July 2024 (0.7%).
The total number of individuals without work in the country amounted to 444,402, marking a decrease of 90,496 persons in comparison with August 2023.
The number of people under the age of 75 who are not included in the labor force, or “persons outside the labor force,” meaning individuals who neither work nor seek employment, amounted to 3,076,851.
Meanwhile, according to the report, the jobless rate in Greece dropped below the 10% threshold in the second quarter of 2024, with the number of unemployed people over the period reaching 467,619, an 18.6% decrease compared to the previous quarter.
Source: tovima.com
Latest News
ELSTAT Highlights Greek Demographic Problem in Report
Total births in 2023 amounted to 71,455, a 6.1% drop compared to 2022, when there were 76,095 births
EU Launches Infringement Process against Greece, 16 Other States for Failing to Implement CSRD
The member-states in question now have two months to respond and complete their transposition
Inflation: 3% in Greece in September – 1.8% in the Eurozone
At the same time, the consumer price index in the Eurozone increased by 1.8% during the same month (down from 2.2% in Aug.), falling below the European Central Bank's (ECB) target of 2%.
Trio of SE Europe Ministers Call for EU Action to Address Surging Power Prices
The energy ministers of Greece, Bulgaria and Romania said sharp price hikes in SE Europe's wholesale power markets last summer wer due to external factors
Greece to Sell 10% Stake in National Bank as Part of Banking Sector Privatization
This means that Greece could raise up to 727.2 million euros from the sale
ELSTAT: Retail Trade in Greece Slightly Down in July
The concerning figures come in spite of the summer sales by retailers, as consumers are trying to make ends meet due to the rising cost of living
Austria’s Far Right FPO Wins General Elections
The projected victory highlights the electorate shift in Europe toward hard right parties caused largely by rising concerns over immigration levels.
New Labor Market Characteristics and Changes Revealed in ECB Report
60 % of the companies admitted that attracting skilled employees has become more difficult due to wage levels
Greece Plans New Early Debt Repayment for 2025
This subsequent debt repayment is expected to be completed by Sept. 2025, with an amount of at least 5 billion euros
PM Mitsotakis Highlights GSI Project Securing Europe’s Energy, in Weekly Review
Mitsotakis highlighted that the increase in interconnections among European countries’ networks is a critical factor in promoting the green transition