Greek unemployment rate eased to 23 pct of the workforce in October

Greek unemployment rate eased to 23 pct of the workforce in October, from 23.1 pct in September and 24.5 pct in October 2015, Hellenic Statistical Authority said on Thursday.

The statistics service, in a monthly report, said that the number of unemployed people totaled 1,102,335 in October, with the number of unemployed people in the 55-64 age group rising steadily as companies dismissed older workers to hire young ones at the minimum wage.

The number of unemployed people fell by 80,656 in October compared with October 2015 (a decline of 6.8 pct) and by 8,146 compared with September (a decline of 0.7 pct). The number of employed people totaled 3,688,381 in October, down 0.2 pct from September, but up 1.4 pct from October 2015.

Unemployment remained higher among women (27.7 pct in October from 28.6 pct in October 2015) compared with men (19.2 pct and 21.3 pct respectively. The unemployment rate in the 15-24 age group fell to 44.2 pct from 48.8 pct in October 2015, in the 25-34 age group it fell to 29.7 pct from 31.2 pct, in the 35-44 age group it fell to 19 pct from 22.1 pct, in the 45-54 age group it fell to 18.4 pct from 19.6 pct, in the 55-64 age group it rose to 19.3 pct from 16.5 pct and in the 65-74 age group it rose to 11.8 pct from 10.2 pct.

Among the country’s regions, Epirus-Western Macedonia recorded the highest unemployment rate (26.7 pct in October 2016 from 27.9 pct in October 2015), followed by Thessaly-Central Greece (24.6 pct from 26.9 pct), Macedonia-Thrace (24.1 pct from 25 pct), Peloponese-Wester Greece-Ionian Islands (23.4 pct from 23.8 pct), Attica (22.4 pct from 24.8 pct), Crete (19.8 pct from 25.8 pct) and Aegean (19 pct from 14.4 pct).