Greek unemployment drops for the first time in four years

GREEK unemployment fell for the first time in four years during the second quarter, according to official figures released by the government yesterday.

Though unadjusted for seasonal effects, the number of people out of work dipped from 27.4 per cent in the first three months of the year to 27.1 per cent between April and June.

No fall has been recorded previously since the third quarter of 2009. Despite the dip, the country’s economy is still mired in recession, with the highest unemployment in Europe. The country’s youth unemployment is also still staggeringly high, at 59 per cent for under-25s.

Finance minister Yannis Stournaras said that the figures were evidence that Greece’s economy was now showing signs of recovery. However, other European finance ministers have recently admitted that the country will need an additional bailout when programmes set by international lenders wind down after 2014.