Economic news

Greece's jobless drops to lowest level in 5 years

Greek unemployment rate fell to 22.5% in March from revised 22.9 percent in February. The seasonally adjusted jobless rate in March was at its lowest since February 2012, according to the statistics agency ELSTAT.

Greece's unemployment rate reached a peak of 27.9% in September 2013, after that it began to decline. Nevertheless, it remains much higher than the euro zone's average, which in April this year fell to 9.3% - its lowest since 2009.

Greece's economy grew by 0.4% in the first quarter of 2017 after falling 1.2% in the fourth quarter of last year.

The reduction of unemployment rate is a positive signal for Greece, which is still dependent on the assistance of international lenders.

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