First Quarter Unemployment 2014, Stable at 27.8%



Youth-unemploymentThe unemployment rate for Greece stood at 27.8% for the first quarter of 2014. It remained unchanged compared with the previous quarter, while showing a slight increase compared to the 27.6% rate recorded in the first quarter of 2013.

According to data released by the Hellenic Statistical Authority (ELSTAT), the number of employed amounted to 3,483,716 people, with employment showing an increase of 0.1% compared with the previous quarter and a decrease of 0.6% compared with the first quarter of 2013.

At the same time, the number of unemployed people was 1,342,299, an increase of 0.4% compared with the previous quarter and 0.5% compared with the first quarter of 2013.

In accordance with ELSTAT’s data, unemployment continues to greatly affect women and young people. The unemployment rate for women was 31.4% versus 25% for men, while the unemployment for young people aged 15-24 reached 56.7%. For young women the rate is more than 61% (61.5% in the first quarter).

Furthermore, the distribution of unemployment, taking into account the level of education, is as follows: the highest rate was recorded in people who have only attended some classes of primary school (45%), followed by people who have never been to school (38.4%). The lowest rates were observed in those with a doctorate or master’s degree (15.3%) and graduates of higher education (18.7%).

During the first quarter of 2014, 4% of Greece’s unemployed rejected a job offer for various reasons, the main ones being either because the job location was not easily accessible (27.7%), because the salary was not satisfactory (25.6%), or because the working hours were not convenient (23.4%).

The rate for the “newly” unemployed (the people who have never worked in the past) is 23%, while the long-term unemployed (those have been looking for work for 12 months or more) is 71.4%.