The unemployment rate in Greece is steadily decreasing, which is recorded in all “indicators”. Last example, Eurostat, which announced a few days ago that Greece recorded the largest decline in the EU between October 2016 and October 2017 on the level of unemployment, from 23.3% to 20.7%.
In particular, according to Eurostat data, unemployment in Greece declined to 20.7% in October 2017, compared with 20.8% in September.
Moreover, in December the unemployment rate in November remained stable in the euro area and in the EU, at 8.7% and 7.3%, respectively. Eurozone unemployment fell to the lowest level since January 2009 and the lowest level since October 2008 in the EU. One year ago, in December 2016, unemployment in the euro area and the EU of 28 was 9.7%, and 8.2% respectively.
Altogether in December, there are 17,961 million unemployed in the EU and 14,137 million unemployed in the euro area.
The highest unemployment rates in the EU are recorded in Greece (20.7% in October) and in Spain (16.4%). The lowest unemployment rates were in the Czech Republic (2.3%), Malta and Germany (3.6%).
Especially in Greece, the number of unemployed in October stood at 990 thousand. The unemployment rate for men was 17% and for women 25.4%.
The unemployment rate for young people (under 25) in Greece dropped to 40.8% in October, compared with 40.3% in September. The highest unemployment rates among young people in the EU are recorded in Greece (40.8%), Spain (36.8%) and Italy (32.2%). The lowest rates are recorded in the Czech Republic (4.9%) and Germany (6.6%).
In December youth unemployment in the euro area stood at 17.9% and in the EU at 16.1%./IBNA