Greek unemployment rate fell to 25.8 pct in October

Greek unemployment rate fell to 25.8 pct of the workforce in October from 27.8 pct in October 2013 and 26 pct in September 2014, Hellenic Statistical Authority said on Thursday.

The statistics service, in a report, said that the number of unemployed people totaled 1,245,340 in October with one in two young people -aged up to 24 years old- remaining unemployed despite the introduction of government-sponsored five-month employment programs.

The number of unemployed people fell by 104,263 in October 2014 compared with October 2013 (a decline of 7.7 pct) and by 13,491 compared with September 2014 (a decline of 1.1 pct).

The number of employed people totaled 3,585,234, up 72,379 compared with October 2013 (an increase of 2.1 pct) and by 6,853 compared with the September 2014 (an increase of 0.2 pct).

Unemployment among women fell to 29.2 pct in October from 31.9 pct in October 2013, significantly higher compared with men (23.1 pct and 24.6 pct respectively).

The 15-24 age group recorded the highest unemployment rate (50.6 pct from 57.4 pct in October 2013), followed by the 25-34 age group (34.5 pct from 37 pct), the 35-44 age group (22.2 pct from 24.1 pct), the 45-54 age group (20.8 pct from 20.6 pct), the 55-64 age group (16.5 pct from 16.7 pct) and the 65-74 age group (11.4 pct from 12 pct).

Macedonia-Thrace (27.8 pct in October 2014 from 29.4 pct in October 2013) recorded the highest unemployment rate among the country’s regions, followed by Attica (27.3. pct from 28.9 pct), Thessaly-Central Greece (25.8 pct from 26.7 pct), Epirus-Western Macedonia (25.3 pct from 29.1 pct), Peloponese-Western Greece-Ionian Islands (25.1 pct from 25.5 pct), Crete (21.7 pct from 26.3 pct) and Aegean (19.2 pct from 23.3 pct).