Greek Unemployment Falls Below 10% in Q2 2024

08:21 6/9/2024 - Πηγή: iEfimerida

The Greek labor market showed promising signs of recovery in the second quarter of 2024, with the unemployment rate dipping below 10% for the first time in recent years.

According to the Hellenic Statistical Authority (ELSTAT), the unemployment rate stood at 9.8% in Q2, down from 12.1% in the previous quarter and 11.2% in the same period last year.

This

positive trend was accompanied by a notable increase in employment.

The number of employed individuals rose by 3.7% compared to the first quarter of 2024, reaching a total of 4,327,825. This also represents a 2.2% increase compared to the second quarter of 2023.

While the overall picture is encouraging, the data also reveals persistent disparities across various demographic groups and regions. Unemployment rates remain higher among women, young people, those with lower levels of education, and residents of Western Macedonia. In contrast, men, individuals aged 30-44, people with post-secondary education, and foreign citizens demonstrate higher labor force participation rates.

The decrease in unemployment and the rise in employment are positive indicators for the Greek economy. However, addressing the persistent disparities in the labor market remains a crucial challenge for policymakers moving forward.

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