Greek Unemployment Up to New High in May


In May, Greece's jobless rate rose to 27.6 percent from an upwardly revised 27.0 percent in April and hit its highest level since the beginning of the series. Youth unemployment rose further to 64.9 percent.

Both total unemployment and youth unemployment rates in greece are up to more than twice than Euro Area's reading of 12.1 and 23.3 percent respectively, reflecting the impact of a six-year austerity-driven recession.

Τhe number of unemployed rose to 1,381,088, an increase of 193,668 persons (+16.3 percent) compared with May 2012 and of 30,558 persons compared with April 2013 (+2.3 percent). 

The number of employed was registered at 3,621,153 persons, a decrease of 171,356 persons compared with May 2012 (a 4.5 percent rate of decrease) and of 22,815 persons compared with April 2013 (a 0.6 percent rate of decrease). 

Inactive population, that neither worked neither looked for a job, decreased by 33,535 persons (a 1.0 percent rate of decrease) compared with May 2012 and increased by 20,508 persons compared with April 2013 (+0.6 percent).

Greek Unemployment Up to New High in May


Elstat | Nuno Fontes | nuno@tradingeconomics.com
8/8/2013 10:40:42 AM