Unemployment rate – 7.3 pc in May


The unemployment rate in seasonally-adjusted form was estimated at 7.3 percent in May 2014, on the rise by 0.2 percentage points from the previous month and by 0.1 percentage points compared to the level recorded in May 2013, according to the data released on Tuesday by the National Statistics Institute (INS). The number of the unemployed people (aged 15-74) estimated for May 2014 is 718,000, up from the previous month (702,000 people) and down from the same month of the previous year (723,000 people). In terms of gender, the unemployment rate for men exceeds by 1.4 percentage points that of women (the respective values being 7.9 percent in the case of men and 6.5 percent for women). For adults (people aged 25-74), the unemployment rate was estimated at 5.8 percent for May 2014 (6.4 percent for men and 5 percent for women). The number of jobless people aged 25-74 represents 74 percent of the total number of the unemployed estimated for May 2014. On the other hand, the euro zone’s unemployment rate held steady at a 20-month low in May, amid easing concerns over the region’s growth prospects, Eurostat official data showed. The euro zone’s unemployment rate held steady at a seasonally adjusted 11.6 percent in May, unchanged from April and compared to expectations for an increase to 11.7 percent. The data showed that among the member states, the lowest unemployment rates were recorded in Austria (4.7 percent), Germany (5.1 percent) and Malta (5.7 percent), and the highest in Greece (26.8 percent in March 2014) and Spain (25.1 percent).

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