Unemployment rate in Greece was down to 10.9% in August 2023 from 12.3% in August last year, but remained largely unchanged from July, Hellenic Statistical Authority said on Monday.
Τhe number of unemployed people in August was 512,193, down 71,013 from August 2022 and down 2,080 from July 2023.
The unemployment rate among women was 14.4% (16.3% in August 2022) and among men 8.3% (9.3% in 2022).
Unemployment rate in the 15-24 age group fell to 22.5% from 29.8% in August 2022 and in the 25-74 age group it fell to 10.3% from 11.2%, over the same periods, respectively.
The number of employed people was 4,170,977, up 30,190 from August 2022 and down 47,172 from July 2023.
PS in summer months, unemployment tends to decrease, anyway, due to tourism and seasonal jobs.
“PS in summer months, unemployment tends to decrease, anyway, due to tourism and seasonal jobs.”
While this is true they are comparing August figures for two consecutive years so seasonal effects should not matter.
Does the statistical body publish figures on labour participation? I’m not sure exactly how Greece defines “unemployed” but typically unemployment figures only includes people who are out of work AND actively seeking work. Labour participation measures people in work as a percentage of the population who are of working age, i.e. the population who have completed education and have not reached retirement age. In the UK unemployment has not changed much since the pandemic but labour participation has fallen markedly. Some of the fall is due to long term illness, either directly or indirectly caused by the pandemic, while some is due to people, typically over 50, who have decided to use savings and draw down on pension pots to retire early. This is having the biggest impact on the productivity of the country as a whole.