Unemployment in Greek falls to 12-yr low

Athens: The unemployment rate in Greece in January dropped to a 12-year record low of 12.8 per cent, unchanged from December 2021, authorities said here.

In the fourth quarter (Q4) of 2021, the unemployment rate was 13.2 per cent, down from 16.2 per cent in the same period of 2020, Xinhua news agency quoted the Hellenic Statistical Authority (ELSTAT) as saying.

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At the peak of the Greek debt crisis in 2013, the jobless rate was 27.5 per cent in the country.

In a statement, the Ministry of Labour and Social Affairs Ministry attributed the improvement to the reforms implemented in recent years, which have reduced labour costs and adjusted the corporate tax rates.