Greece records biggest percentage decline in unemployment rate in the EU

Greece recorded the biggest percentage decline in the unemployment rate among EU countries in October 2017, with the unemployment rate falling to 20.7 pct of the workforce from 23.3 pct in October 2016, Eurostat said on Wednesday.

In a report released here, the EU executive’s statistics agency said however that the Greek unemployment rate remained the highest in the European Union. It was 20.8 pct in September 2017.

In the Eurozone, the unemployment rate was 8.7 pct in December 2017 and 7.3 pct in the EU, the lowest levels since January 2009 and October 2009, respectively. The unemployment rate was 9.7 pct and 8.2 pct in the Eurozone and the EU, respectively, in December 2016.

There were 17.961 million unemployed people in the EU and 14.137 million unemployed in the Eurozone in December 2017. In Greece, the number of unemployed people totaled 990,000. Youth unemployment was 40.8 pct in Greece in October, up from 40.3 pct in September. In the Eurozone, youth unemployment was 17.9 pct and in the EU 16.1 pct in December.