August 9, 2018 / 9:24 AM / in 3 months

Greek May unemployment falls to 19.5 pct from revised 20 percent April

ATHENS, Aug 9 (Reuters) - Greece’s jobless rate fell to 19.5 percent in May from a downwardly revised 20 percent in the previous month, data from the country’s statistics service ELSTAT showed on Thursday.

Seasonally adjusted data showed the number of unemployed at 924,941 people, with younger persons aged up to 24 being the highest group of individuals out of work.

Among that group, the jobless rate eased to 39.7 percent from 44 percent in the same month last year.

Greece’s jobless rate hit a record high of 27.9 percent in September 2013. It has been easing since but remains the highest in the euro zone.

The government expects the unemployment rate to fall to 18.4 percent this year, based on projections in its 2018 budget.

Unemployment in the 19 countries sharing the euro stood at 8.4 percent in May according to Eurostat. (Reporting By Michele Kambas)

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