A significant further decrease in unemployment was recorded in Greece in February, according to the latest Eurostat monthly data.
The unemployment rate fell by almost one point compared to January, falling from 12.8% to 11.9%, while the de-escalation compared to February 2021 amounts to 4.3 points.
According to the ELSTAT time series, the last time unemployment was below 12% was in March 2010, ie twelve years ago.
There was also a decline in youth unemployment, which stood at 31.1%, compared to 33.1% in January and 40.2% in February last year.
The rapid decline in unemployment reflects, on the one hand, the protection of jobs during the pandemic and, on the other, the growth potential of the economy, which is now influenced by active policies for training the unemployed and encouraging recruitment.
This is reflected in the number of unemployed, which, according to Eurostat data, has been “cut” by 151,000 people in the last twelve months.
It is noted that the reduction of the unemployed is not “artificial”, ie it is not due to the departure of citizens from the workforce due to retirement or because they have stopped looking for work.
According to ELSTAT data for January, the number of citizens who do not work or look for work had decreased by almost 220,000 compared to January 2021, which is a drop of 6.3%.
Source: Capital
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