Greece: Fall in unemployment rate continues, hits two-year low in August
November 13, 2014
The number of unemployed fell by 20,400 in August, according to the Hellenic Statistical Authority (EL.STAT.). The reading followed July’s drop of 22,600 in the number of unemployed.
Following the decline in the number of unemployed, the unemployment rate inched down from 26.1% in July to 25.9% in August. August’s reading came in below the rate recorded in the same month last year (August 2013: 27.80%) and marked the lowest print in two years. However, the current rate is still well above the Eurozone average (August: 11.50%).
Author: Cecilia Simkievich, Economist