Greece: Unemployment rate eases slightly in June to lowest level in more than a year
September 11, 2014
In June, the number of unemployed fell by 4,400 over the previous month, according to the Hellenic Statistical Authority (EL.STAT.). The decrease contrasted the 2,000 increase in the number of unemployed recorded in the previous month.
In addition, the unemployment rate inched down from 27.1% in May to 27.0% in June (June 2013: 27.6%), which marked the lowest rate since February 2013. The figure slightly undershot market expectations, which had the unemployment rate remaining at the previous month’s 27.1%. As a result, the current rate is more than twice the Eurozone’s average unemployment rate of 11.6% in the same month.
Author: Dirina Mançellari, Senior Economist