Greek Jobless Rate Falls to Near 7-Year Low of 19.1%


The Greek seasonally adjusted unemployment rate declined to 19.1 percent in June of 2018 from a downwardly revised 19.3 percent in the prior month. It was the lowest jobless rate since September of 2011.

Compared with the previous month, the number of unemployed decreased by 1.4 percent to 909.3 thousand while the number of employed increased by 0.5 percent to 3.86 million.

A year ago, the jobless rate was reported at 21.3 percent. The number of unemployed persons went down by 11.0 percent while employment rose by 2.2 percent.

Unemployment declined among all age groups but continued to weigh more in the 15-24 age group (39.1 percent from 43.4 percent in June 2017) and the 25-34 age group (23.2 percent from 27.3 percent). Lower rates were also observed in the 35-44 age group (17.6 percent from 19.0 percent); the 45-54 age group (16.1 percent from 16.8 percent); 55-64 age group (15.1 percent from 17.1 percent) and the 65-74 age group (10.1 percent from 12.6 percent).

By genders, the unemployment rate was lower for men (15.3 percent from 17.9 percent) than for women (23.8 percent from 25.5 percent).

Across the country's regions, the lowest jobless rates were registered in Crete (12.2 percent), Aegean Islands (17.9 percent) and Peloponnese, Western Greece & Ionian Islands (18.5 percent). In contrast, Epirus-Western Macedonia recorded the highest rate (24.4 percent).

The Government expects the unemployment to fall to 18.4 percent this year as the economy recovers, based in its 2018 budget.

Greek Jobless Rate Falls to Near 7-Year Low of 19.1%


ELSTAT | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
9/6/2018 9:48:54 AM