June 11, 2020 / 9:51 AM / a month ago

Greek unemployment falls to 14.4% in March, lowest since November 2010

ATHENS, June 11 (Reuters) - Greece’s jobless rate dropped to 14.4% in March from a downwardly revised 15.9% reading in the previous month, data from the country’s statistics service ELSTAT showed on Thursday.

It was the lowest jobless rate since November 2010.

Seasonally adjusted data showed the number of unemployed at 653,686 people, with those aged up to 24 bearing the brunt of being out of work.

Among younger persons aged 15 to 24, the jobless rate fell to 32.4% from 37.7% in the same month in 2019. Greece’s jobless rate, which hit a record high of 27.8% in September 2013, has been falling since but remains the highest in the euro zone.

Greece’s 2020 budget projected growth picking up this year, helping to drive joblessness down to 15.6% but the government-imposed lockdown to stem the spread of the new coronavirus has thrown forecasts off.

The EU Commission, in its latest forecasts, estimates unemployment in Greece will rise to 19.9% this year, projecting the economy will contract by 9.7%. (Reporting by George Georgiopoulos)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below