Eurostat: Greece Is Still the Unemployment ‘Champ’ of the European Union

Eurostat, the EU statistics authority, reports that the euro area (EA19) seasonally adjusted unemployment rate was 10.1 percent in August 2016, stable compared to July 2016 and down from 10.7 percent in August 2015. This remains the lowest rate recorded in the euro area since July 2011. The EU28 unemployment rate was 8.6 percent in August 2016, stable compared to July 2016 and down from 9.3 percent in August 2015. This remains the lowest rate recorded in the EU28 since March 2009.

Greece remains the “champ” of joblessness with the highest unemployment rates in the EU. In June 2016, the Greek unemployment rate was at 23.4 percent, ahead of Spain (19.5 percent). In Cyprus, the unemployment rate fell from 14.7 percent to 12.1 percent. The member states with the lowest unemployment rates in August 2016 were recorded in the Czech Republic (3.9 percent) and Germany (4.2 percent).

source: greekreporter.com/2016/09/30, By Mary Harris

Read more

Greek Unemployment Rates are the highest in the EU

Eurostat figures released on Friday place Greece at the top of the unemployment table within the Eurozone as well as the European Union.

Greece’s figures, which take into account data available until the month of July, show a 25% seasonally adjusted unemployment rate, which translates to 1,197,000 people without a job. Spain, with an unemployment rate of 21.1% in September, is the only other EU country with more than a fifth of its population unemployed. Cyprus had the EU’s third highest unemployment rate with 15.1% in September.

The Eurozone‘s average unemployment rate is still higher than the European Union’s average unemployment rate. By September 2015 the unemployment rate for the monetary union was 10.8% while the EU had a 9.3% average unemployment rate.

Young people in Greece are also faced with the highest jobless rates. 48.6% of people between the ages of 15 and 25 who have been looking for a job within the past four weeks prior to July’s report, did not have one. That amounts to 139,000 people. Spain is a close second with an under-25 unemployment rate of 47.7%. The Eurozone’s average youth unemployment was 22.1% for September 2015 while the EU’s was 20.1% for the same month.

The figures also reveal a significant disparity between unemployment in eligible females and males in Greece. While 21.5% of eligible males were registered as not having a job, 29.4% of eligible females were unemployed in July. The gap in Greece does not reflect the extent of either the Eurozone’s or the EU’s gap, as there is a 0.2% higher unemployment rate for females in countries in the Eurozone and a 0.1% higher rate for females in countries in the EU.

source:greece.greekreporter.com,  Anastassios Adamopoulos – Oct 30, 2015

Read more