Greek Jobless Rate Edges Down to 18.5% in November


The Greek seasonally adjusted unemployment rate dropped to 18.5 percent in November 2018 from an upwardly revised 18.7 percent in the prior month. It is the lowest jobless rate since July 2011.

Compared with the previous month, the number of unemployed decreased by 0.7 percent to 875 thousand and the number of employed persons rose by 0.8 percent to 3.87 million.

A year ago, the jobless rate was registered at 21.1 percent. The number of unemployed persons declined by 12.1 percent while employment increased by 3.7 percent.

Unemployment went down for most of the age groups but continued to affect more young people aged 15-24 years (39.1 percent from 44.3 percent in November 2017) and the 24-34 age group (23.8 percent from 26.2 percent). Lower rates were also observed in the 35-44 age group (16.6 percent from 19.1 percent); the 45-54 age group (15.1 percent from 16.9 percent) and the 55-64 age group (13.7 percent from 17.1 percent). Meantime, the 65-74 age group registered the same rate (11.9 percent from 11.9 percent).

By genders, the jobless rate was lower for men (14.3 percent from 17.2 percent) than for women (23.7 percent from 25.9 percent).

Across the country's regions, the lowest unemployment rates were recorded in Crete (14 percent), Thessaly – Sterea Ellas (18.2 percent) and Peloponnese, Western Greece % Ionian Islands (18.3 percent). In contrast, Epirus-Western Macedonia registered the highest rate (21.6 percent).

Despite the Greek jobless rate has been falling steadily since September 2013 when it hit a record high of 27.8 percent, it remains the highest in the euro zone (7.9 percent in November).

Greek Jobless Rate Edges Down to 18.5% in November


ELSTAT | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
2/7/2019 1:21:43 PM