Greece: Unemployment inches up in September
December 11, 2013
In September, the number of unemployed rose by 14,000 over the previous month according to the Hellenic Statistical Authority (EL.STAT.) The rise followed an increase of 6,000 unemployed in the previous month.
In seasonally-adjusted terms, the unemployment rate inched up from 27.3% in August to 27.4% in September (September 2012: 26.0%). According to EL.STAT, more "observations" are needed to be able to note a change in the trend of the unemployment rate. However, the Institute added that, "during the last four months we observe a relative stability in the estimated seasonally-adjusted unemployment rate."
FocusEconomics Consensus Forecast panelists expect unemployment to average 27.5% this year, which is unchanged from last month's forecast. For 2014, the panel expects the unemployment rate to average 27.7%, which is also unchanged from last month's estimate.
Author: Dirina Mançellari, Senior Economist