Greek jobless rate drops to 4 year low

Greece’s unemployment rate in October inched marginally lower to 23%, the lowest rate in more than four years, according to data from the country’s statistics office released Thursday.

The figure stood at 23.1% in September.

Statistics office Elstat said in a statement that the number of unemployed workers in Greece stood at 1.2 million in October.

The October rate is the lowest since March 2012, when jobless figures were around the same levels, according to Reuters.

Despite the drop, Greece’s unemployment is more than double Eurozone levels, which stood at 9.8% in October.

Data showed that 44.2% of those aged between 15 to 24 in Greece are without work, with 30% of those in the 25 to 34 age group also in the jobless queue.