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Unemployment in Greece falls to 19% in July, youth unemployment at 37.9%

Unemployment in Greece fell to 19 percent in the month of July. According to Greek Statistics Authority, the unemployment rate fell to 19% from 19.1% in June and 20.9% in July 2017. Y0uth unemployment is still high at 37.9%, however, a year ago it was at 41.1% and reached above 50% at the peak of the Greek crisis.

According to the monthly report by ELSTAT,  the number of unemployed totaled 879,861 in July, down 104,449 from July 2017 (a decline of 10.4 pct) and down 13,232 or 1.5 pct compared with June 2018.

The number of employed is estimated at 3,837,271, up 45,057 or 1.2 pct compared with July 2017, but down 32,616 or 0.8 pct compared with June 2018.

The unemployment rate among women was 23.7 pct in July from 25.2 pct in July 2017, while among men it fell to 15.1 pct from 17.5 pct.

The highest unemployment rate was recorded in the 15-24 age group (37.9 pct in July from 41.1 pct in July 2017), followed by the 25-34 age group (23.7 pct from 26.3 pct), the 35-44 age group (17.2 pct from 18.8 pct), the 45-54 age group (16.2 pct from 16.7 pct), the 55-64 age group (14.5 pct from 17.8 pct) and the 65-74 age group (14.7 pct from 12.8 pct).

Among the country’s regions, Epirus-Western Macedonia recorded the highest unemployment rate (23.3 pct in July from 27 pct in July 2017), followed by Attica (20 pct from 21.3 pct), Macedonia-Thrace (19.3 pct from 21.3 pct), Thessaly-Central Greece (19 pct from 20.4 pct), Peloponese-Western Greece-Ionian Islands (18.3 pct from 20.9 pct), Aegean (17.3 pct from 16.6 pct) and Crete (12.5 pct from 16.6 pct).

One should note that unemployment rates are traditionally lower in summer due to seasonal job openings in the tourism sector.

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