Unemployment in Greek islands increased significantly

The unemployment in Greek islands increased significantly during the last months due to the refugee wave. The newly constructed refugee camps lead to the contraction of tourism, and hence jobs in this industry. According to statistics, in August, unemployment in the Greek islands increased by 4%.

Overall the unemployment in the country recorded a monthly growth, but the decline on year-on-year basis. In August, the measured unemployment rate was 23.4% compared to 23.3% in July and 24.6% in August 2015.

Jobless citizens in Greece are just over 1.1 million, as the country has major problem with finding a job for young people and those aged 55-64 years. The employed in the Greek economy are just over 3.22 million people.

The unemployment rate among women is 28%, compared to 28.5% last August. For men, things are much better – unemployed were 19.7% of working age men in the country. In August 2015 the percentage was 21.5%.

The data show also reduction of youth unemployment in August – from 48.3% to 46.5%.

The Epirus-Western Macedonia recorded the highest unemployment rate among the country’s regions with 26.3% in August 2016 from 27.7% in August 2015. This was followed by Thessaly-Central Greece which came in at 25% in August 2016 from 26.7% an year earlier, while Macedonia-Thrace reported 25% from 25.3%. The Peloponese-Western Greece-Ionian Islands came in at 23.3% from 24.4%, Attica at 23.2% in August 2016 from 24.7% in August 2015, Crete at 22.2% from 23.5% and lastly the Aegean region at 19.5% from 15.5%.

The Greek economy expanded by a modest 0.2% in April-to-June compared to the first quarter but is expected to remain in recession this year as the country feels the full brunt of austerity measures approved under its third bailout.

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