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The unemployment rate in Greece fell to 14.2 percent in July from 15.0 percent the previous month, according to ELSTAT figures released on Wednesday. 664,384 persons were officially unemployed, according to seasonally adjusted figures, with those under the age of 24 being the hardest hit.
According to the report, the unemployment rate for young people aged 15 to 24 years old fell to 32.3 percent in July from 35.8% the previous month. Greece’s unemployment rate has been declining since reaching a record high of 27.8% in September 2013, although it remains the highest in the euro zone.
Women were more hit by unemployment than men, with respective percentages of 20.2 percent and 14.1 percent in July. Greece’s economy grew faster than expected in the second quarter, with an annual growth rate of 16.2 percent as consumer spending and investment increased.
Last week, Prime Minister Kyriakos Mitsotakis predicted that the economy would grow at a faster-than-expected 5.9% this year.