Greece: Unemployment rate drops further in October
January 11, 2015
The number of unemployed fell by 13,500 in October, according to the Hellenic Statistical Authority (EL.STAT.). October’s reading marked a notable improvement compared to September’s mild drop of just 900 in the number of unemployed.
The unemployment rate inched down from 26.0% in September to 25.8% in October. The reading, which marked the lowest rate in over two years, was below that of the same month of the previous year (October 2013: 27.8%). Despite the improvements registered in recent months, Greece’s unemployment rate is still well above the Eurozone average, which has been stable at 11.5% since August.
Author: Cecilia Simkievich, Economist