Greek January Jobless Rate Lowest Since 2011


The seasonally adjusted unemployment rate in Greece fell to 20.6 percent in January of 2018, from 20.8 percent in December and reaching the lowest since November 2011. The government expects the jobless rate to decrease to 18.4 percent this year, based on projections in its 2018 budget.

Compared with December 2017, the number of unemployed declined by 1 percent to 977 thousand and the number of employed went down by 0.3 percent to 3.76 million.

A year earlier, the unemployment rate was higher at 23.2 percent. The number of unemployed persons fell by 11.5 percent while employment rose by 2.7 percent.

Unemployment continued to hit mainly people aged 15 to 24, as 42.3 percent of young active population was unemployed, despite easing from 47.1 percent in the same month of 2017. Additionaly, lower jobless rates were also recorded in the majority of age groups:  the 25-34 age group (26 percent from 29.4 percent); the 35-44 age group (19 percent from 20.1 percent); the 45-54 age group (16.5 percent from 18.1 percent), the 55-64 age group (16.5 percent from 19.9 percent) and the 65-74 age group (7.1 percent from 13.9 percent).

The jobless rate among males declined to 16.7 percent in January from 19.6 percent a year ago and for females it went down to 25.6 percent from 27.6 percent.

Among the country's regions, the highest unemployment rates were reported for Epirus-Western Macedonia (26.2 percent), followed by Peloponnese, Western Greece and Ionian Islands (21.7 percent), Attica (21 percent), Macedonia-Thrace (20.2 percent) and Aegean Islands (19.8 percent); while Crete recorded the lowest rate (16.4 percent).

 Greek January Jobless Rate Lowest Since 2011


ELSTAT | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
4/12/2018 11:59:01 AM