Greek Unemployment Is More than Double the EU Average


The euro area seasonally-adjusted unemployment rate was 10.1 percent in May 2016, noting a 10.2 percent drop from April 2016 and from May 2015.

While this may have been the lowest rate recorded in the euro area, the case was still gloomy for Greece that had the highest unemployment rate at 24.1 percent in March 2016. The only positive note for Greece was that it’s rate fell slightly from 25.7 percent in May 2015.

Eurostat recorded the lowest unemployment rates as those of the Czech Republic at 4 percent, Malta at 4.1 percent and Germany at 4.2 percent.

In May 2016, there were 4.197 million young people unemployed under the age of 25 years in the EU28 of whom 2.885 million were in the euro area. Youth unemployment decreased by 503,000 in the EU28 and by 270,000 in the euro area. In May 2016, the youth unemployment rate was 18.6 percent in the EU28 and 20.7 percent in the euro area compared with 20.6 percent and 22.4 percent respectively in May 2015.