ELSTAT: Rate of unemployment drops to 25.9% in August
The Greek statistics authority ELSTAT has released its latest labor force survey, which includes information on the seasonally…
The Greek statistics authority ELSTAT has released its latest labor force survey, which includes information on the seasonally adjusted unemployment rate for August.
The survey is adjusted in order to remove the effect of seasonal factors, so that market trends are more apparent. According to the survey, the seasonally-adjusted rate in August 2014 was 25.9%, compared to 26.1% in July 2014 and 27.8% in August 2013.
Additionally the survey indicates that in August 2014 there were 3,551,148 employed, 1,242,219 unemployed and 3,334,759 who were economically non-active.
The survey shows employment rose by 32,636 (0.9%) compared to August 2013, but dropped by 15,698 (-0.4%) compared to July 2014. Likewise there were 112,186 (-8.3%) less unemployed compared to August 2013 and 20,398 (-1.6%) compared to July 2014.
Regarding the economically non-active, namely those not seeking employment, their numbers increased by 29,196 (0.9%) since August 2013 and by 31,709 (1%) since July 2014.