Unemployment falls to 11.2% in second quarter

Unemployment fell to 11.2% in the second quarter of this year, down from 11.8% in the previous quarter and 12.4% in the corresponding quarter of 2022, the Hellenic Statistical Authority (ELSTAT) said on Thursday.

Its latest Labor Force Survey found that 533,341 people were registered as unemployed from April to June, with the majority (59.9%) being out of work for more than a year.

There were 4,236,526 people in employment, an increase of 3.4% compared to the previous quarter and 1.7% compared to the corresponding quarter of the previous year.

A similar number (4,268,513) were categorized as being “outside the labor force,” meaning they do not work in paid employment and are not seeking jobs.

The main reasons why people became unemployed in the second quarter was because their work was of limited duration and had ended (30.4%) or because they were fired (16.6%).