Labour economics

Unemployment falls to 25.7 pct in September

Greece's jobless rate fell to 25.7 percent in September from a upwardly revised 26 percent rate in August as the country's six-year recession eases, Greek statistics agency ELSTAT said on Thursday.

September's reading was the lowest since August 2012 when unemployment stood at 25.5 percent. The record high was set in September 2013, when unemployment hit 28 percent.

Finance Minister Gives up Minimum Wage Freeze Plan

Finance Minister Vladislav Goranov on Sunday backtracked on plans to freeze the minimum wage at its 2014 level in the next year's budget.

Instead, he said he will propose to increase the minimum wage by BGN 40 from its current level of BGN 340 in two steps next year  - to BGN 360 from January 1 and, "in the absence of a major cataclysm," to BGN 380 from the middle of 2015.