The unemployment rate in Greece fell to 9.6% in October 2023, from 11.8% in October 2022. This is the first time the unemployment rate has fallen below 10% since January 2009.
The decrease in unemployment is due to a number of factors, including the recovery of the Greek economy, increased investment and the creation of new jobs.
In particular, according to ELSTAT data, those employed in Greece amounted to 4,257,939 people in October 2023, marking an increase of 145,353 people compared to October 2022.
The unemployed amounted to 453,783 people in October 2023, marking a decrease of 98,636 people compared to October 2022.
The Minister of Labor, Adonis Georgiadis, in his post on Twitter, characterized this development as “historic” and underlined that “the way for a new labor market with more and better paid jobs has been opened”.
The reduction in unemployment is a positive development for Greece, as it contributes to strengthening social cohesion and economic development. However, it is important to note that the unemployment rate in Greece is still higher than the European Union average, which is 6.2%.
The unemployment rate in Greece broke the “barrier” of 10% in October, as announced today by the Hellenic Statistical Authority. In particular, the seasonally adjusted unemployment rate rose to 9.6% in October 2023, compared to 11.8% in October 2022 and the revised to…
— Adonis Georgiadi (@AdonisGeorgiadi) November 30, 2023
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