Greece’s unemployment rate dropped slightly to 24.6 percent in November, down from an upwardly revised 24.7 percent in October, says the Hellenic Statistical Authority (ELSTAT).
According to the figures released on Thursday, jobless Greeks reached 1.18 million people in November.
The November figure, based on seasonally adjusted data, is the lowest since May 2012 when unemployment reached a recession low of 24.0 percent. The jobless rate hit a record high of 27.9 percent in September 2013.
Unemployment in Greece has decreased slightly as the economy stabilized last year after a severe slump, but remains more than double the Eurozone’s average of 10.4 percent in December.
Greece’s economy shrank 0.9 percent in the third quarter of 2015 as capital controls had a negative effect on investment, exports and consumer spending.
The Greek economy is expected to shrink by 0.7 percent in 2016, ELSTAT says.
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