Greece’s jobless rate drops to 23.1% in second quarter

The debt crisis and an austerity-induced recession drove Greece's jobless rate to record highs. Athens, June 2015. [linmtheu/Flickr}]

Greece’s jobless rate declined to 23.1% in April-to-June from 24.9% in the first quarter, data from the country’s statistics service showed on Thursday (15 September).

About 72.3% of Greece’s 1.11 million jobless are long-term unemployed, meaning they have been out of work for at least 12 months, the figures showed.

Young people aged 15 to 24 faced a slightly lower jobless rate of 49.1% in the second quarter compared to 49.5% in the same quarter a year ago.

Greece gives the EU a chance to rediscover its social responsibility

The European Union should not be afraid of Syriza winning the Greek election, but see it as a chance to rediscover its founding principle: the social dimension that created it and without which it cannot survive, writes Marianna Fotaki. 

The highest unemployment rate was recorded in the first quarter of 2014, when joblessness hit 27.8%.

Athens has already published monthly unemployment figures through June, which differ from quarterly data because they are based on different samples and are seasonally adjusted. Quarterly figures are not seasonally adjusted.

The debt crisis and a six-year austerity-induced recession wiped out about a quarter of the country’s economic output and drove the jobless rate to record highs.

Greece’s economy grew by 0.2% in the second quarter but weak demand and scant investment mean a strong rebound after years of recession remains elusive.

The European Commission and Greece’s central bank project a 0.3% economic contraction this year followed by a rebound in 2017, forecasting that gross domestic product will grow by 2.5-2.7%.

Many of Greece's problems were aggravated by the EU

We must recognise that many of Greece’s problems were aggravated by the behaviour of the European Union, writes Maria João Rodrigues.

Subscribe to our newsletters