Unemployment in Greece for June reaches 27%

Unemployment in Greece for June reaches 27%


By Spiros Sideris – Athens

At 27% stood the unemployment rate in the country in June this year, with the number of unemployed amounting to 1,303,884 persons. Despite the percantile drop –  as compared to May 2014, as well as June 2013, one in two young people up to 24-years old remain unemployed, while there was an increase in unemployment in the productive age of 25 to 34 years. At the same time, a cause of concern is that in Crete, despite the “surge” of tourism, the unemployment rate increased by about 4 points.

In particular, the monthly Labour Force Survey of the Greek Statistical Authority (EL.STAT.), reveals the following:

The seasonally adjusted unemployment rate was 27% in June this year, compared to 27.6% in June 2013 and 27.1% in May 2014. The number of unemployed amounted to 1,303,884 people, and dropped by 43,291 persons compared to June 2013 (a drop of 3.2%) and by 4,370 persons compared to May 2014 (0.3% drop).

The number of employed people was estimated at 3,527,112 persons. The number of employed dropped by 3,101 persons compared with June last year (down 0.1%) and increased by 10,290 persons compared to May 2014 (0.3% increase).

The economically inactive population (people who are neither working nor looking for work), amounted to 3,305,922 people, and dropped by 2,625 persons compared to June 2013 (down 0.1%) and by 10,342 persons compared to May 2014 (down 0.3%).

In women, the unemployment rate (31.1% in June this year compared to 31.4% in June last year) remains significantly higher than that of men (23.8% compared to 24.7%).

Age-wise, the highest unemployment rate continues to be observed – despite the special temporary employment programs and reduced wages – in young people 15-24 years of age (51.5% in June 2014 compared to 58.8% in June 2013). Next come the 25-34 years of age (36.5% compared to 35.6%), 35-44 years (23.9% compared to 23.2%), 45-54 years (20.6% compared to 20.8% ), 55-64 years (15.1% compared to 17.7%) and 65-74-year (15.3% compared to 12.6%).