Greek unemployment rose to new high of 27.9 pct in June

EconomyMacroeconomy Tags: ELSTAT, Labour, Unemployment

Greek seasonally adjusted unemployment showed an increase of 0.3 percentage points (pp) month on month (mom) and 3.3pp year on year (yoy) to 27.9 percent in June, which is a new historic high, according to the Hellenic Statistical Authority (ELSTAT) monthly labour force survey. The number of employed slipped by 0.1 percent mom and 3.4 percent yoy to 3.63 million, while unemployed continued heading north, surpassing the 1.4 million mark, up 1.5 percent mom and 14.2 percent yoy.

The results for the second quarter indicate the unemployment rate soared by 3.5pp yoy to a new quarterly high at 27.1 percent, while recording a slight drop of 0.3pp quarter on quarter (q-o-q) for the first time since the third quarter of 2009. Note tho...

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