Unemployment in Greece reached 25.9% in August

Unemployment in Greece reached 25.9% in August


By Spiros Sideris – Athens

Significantly high at 25.9% reached the seasonally adjusted unemployment rate in August, according to the Hellenic Statistical Authority (EL.STAT.). However, it has dropped slightly compared with July (26.1%). The number of unemployed amounted to 1,242,219 persons, those employed in the 3,551,148 people, while the economically active population was 3,334,759 people.

Unemployment had reached a record level of 28% in September 2013, when it began to decline. However, the unemployment rate remains twice as high as it is in the eurozone, which stood at 11.5% in August, and thousands of businesses in the country have bankrupted during the six-year recession.

According to EL.STAT., the seasonally adjusted unemployment rate in August 2014 was 25.9% compared to 27.8% in August 2013 and 26.1% in July 2014.

The seasonally adjusted number of employees in August 2014 is estimated at 3,551,148 persons and the unemployed to 1,242,219 persons, while the economically inactive population totaled 3,334,759 persons (seasonal adjustment removes the effect of seasonal factors, in order to make visible the underlying trend in the labor market).

For men, unemployment in August was 23.1% and for women 29.5%. The highest unemployment rate continues to affect people aged 15-24 years, although it declined to 49.3% from 58.6% in August 2013, followed by the ages 25-34 years, with an unemployment rate of 32.7%.

At regional level the highest unemployment rate was recorded in August in the regions of Macedonia – Thrace (27%), Attica (26.9%) and Epirus – Western Macedonia (26.6%).