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Unemployment in Greece falls to 16.6% in Oct 2019

Unemployment in Greece declined further in October 2019 compared to the corresponding month of 2018, according to data released by Greek Statistics Authority ELSTAT on Thursday.

According to ELSTAT, the seasonally adjusted unemployment rate in October 2019 stood at 16.6% against the revised downward 18.5% in October 2018 and 16.8% in September 2019.

The total number of employed persons in October 2019 was estimated at 3,926,163, the unemployed at 780,913 and the economically inactive population at 3,210,319.

Employees increased by 65,570 people compared to October 2018 (+ 1.7%) and decreased by 709 people compared to September 2019 (negligible change). Unemployed persons decreased by 98,069 people compared to October 2018 (- 11.2%) and 12,294 people compared to September 2019 (- 1.5%).

The economically inactive, that is, the unemployed and job seekers, decreased by 12,988 persons compared to October 2018 (- 0.4%) and increased by 9,095 persons compared to September 2019 (+ 0.3% %).

Citing government sources, media report that target of the government is to have unemployment rate fall to 15% by the end of 2020.

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