Unemployment rate in Greece remains steady in May

The unemployment rate in Greece remained steady during the month of May, as the country’s young aged people were the worst hit with the reading in May, on a seasonally adjusted basis reaching the lowest since April 2012.

Greece's jobless rate was steady at 23.5 percent in May from an upwardly revised figure in the previous month, data released by ELSTAT showed Thursday.

The number of officially unemployed reached 1.123 million people. Hardest hit were young people aged 15 to 24 years, with their jobless rate rising to 50.3 percent from 50 percent in the same month a year earlier. Further, unemployment has come down from record highs but remained more than double the euro zone's average of 10.1 percent in May.

Meanwhile, Greece's economy contracted 0.5 percent in January-to-March and is expected to remain in recession this year as the country feels the full brunt of austerity measures approved under its international bailout.