Greece: Unemployment rate inches down in May
August 7, 2014
In May, the number of unemployed rose by 2,800 over the previous month, according to the Hellenic Statistical Authority (EL.STAT.). The increase was more than double the 1,100 increase in the number of unemployed recorded in the previous month.
However, the unemployment rate inched down from 27.3% in April to 27.2% in May (May 2013: 27.8%), which marked the lowest rate in four months. 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