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Unemployment in Greece falls to 18.9% in August, remains high for youth

Unemployment in Greece feel below 19 percent to 18.9% in August, supported by strong tourism trends, Greek Statistics Authority ELSTAT said on Thursday.

In comparison, unemployment was at 19.1% in July this year and 20.8%t in August 2017.

The statistics service, in a monthly report, said the number of unemployed people totaled 896,588 in August.

Youth unemployment for workers aged 15-24 fell to 36.8% in August 2018.

he number of unemployed people fell by 95,760 compared with August 2017 (a decline of 9.6 pct) and by 7,886 compared with July 2018 (a decline of 0.8 pct).

The number of employed people was 3,858,189, up 85,997 compared with August (up 2.3 pct) and up 25,249 compared with July 2018 (up 0.7 pct).

The unemployment rate among women fell to 23.7 pct in August from 25.1 pct last year, remaining significantly higher compared with men (15 pct from 17.4 pct, respectively).

The 15-24 age group recorded the highest unemployment rate (36.8 pct from 40.4 pct in 2017), followed by the 25-34 age group (24.2 pct from 26.6 pct), the 35-44 age group (17.1 pct from 18.9 pct), the 45-54 age group (15.8 pct from 16.5 pct), the 55-64 age group (14.8 pct from 17.2 pct) and the 65-74 age group (10.1 pct from 13 pct).

Among the country’s regions, Epirus-Western Macedonia recorded the highest rate (23.5 pct in August from 26.1 pct in August 2017), followed by Attica (19.7 pct from 21.3 pct), Macedonia-Thrace (19.5 pct from 21.5 pct), Peloponese-Western Greece-Ionian Islands (18.8 pct from 21.1 pct), Thessaly-Central Greece (18.6 pct from 19.8 pct), Aegean (17.4 pct from 17.6 pct) and Crete (12.8 pct from 15.9 pct).

Let’s see the rates when the tourism season is over.

It is worth noting, however, that the Autumn Report of the European Commission published today forecasts unemployment at 16.9% for 2020.

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