Greek unemployment rate drops to 10.8% in May, ELSTAT says

Greece's seasonally adjusted unemployment rate in May 2023 declined to 10.8%, showing a notable improvement compared to 12.7% in May 2022 and the upwards revised rate of 11.3% in April 2023, according to the Hellenic Statistical Authority (ELSTAT).

The report indicated positive trends in the labor market, with the number of employed persons reaching 4,186,179, reflecting an increase of 45,901 persons (1.1%) compared to May 2022 and 22,512 persons (0.5%) compared to April 2023.

Conversely, the number of unemployed persons declined to 506,184, marking a significant decrease of 95,166 persons (-15.8%) compared to May 2022 and 23,861 persons (-4.5%) compared to April 2023.

Regarding the number of persons outside the labor force, which includes individuals under the age of 75 not engaged in employment-seeking activities, it amounted to 3,111,516. This figure...