ELSTAT reveals unemployment drop in Greece

Posted by Christian J. Hadjipateras 08/06/2017 0 Comment(s) Economia Blog,

Figures released this morning showed a drop in unemployment in Greece to 22.5% according to statistics agency ELSTAT. Despite the promising statistic, unemployment in Greece remains the highest in the Eurozone.

 

However, youth unemployment, the hardest hit, also dropped to 46.6% in comparison to March last year when it stood at 50%. Unemployment in Greece hit a record high of 27.9% in September 2013. While it has dropped since, the current level is still double the Eurozone average.

 

Unemployment in the Eurozone, which comprises of 19 countries within the EU, was at 9.4% in March.

 

The Greek economy grew in the first 3 months of this year with economic output at 0.4%. The SYRIZA-led government projects unemployment to fall further as well as the economy growing by 1.8%

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