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. Unemployment Rate in Greece averaged 16.21 percent from 1998 until 2018, reaching an all time high of 27.90 percent in July of 2013 and a record low of 7.30 percent in May of 2008.

Unemployment Rate in Greece is expected to be 17.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Greece to stand at 15.90 in 12 months time. In the long-term, the Greece Unemployment Rate is projected to trend around 13.60 percent in 2020, according to our econometric models.

Greece Unemployment Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-11-08 10:00 AM Unemployment Rate 18.9% 19.1% 18.5%
2018-12-06 10:00 AM Unemployment Rate 18.6% 18.9% 18.4%
2019-01-10 10:00 AM Unemployment Rate 18.6% 18.6% 17.90%
2019-02-07 10:00 AM Unemployment Rate 18.5% 18.7% 18.4%
2019-03-07 10:00 AM Unemployment Rate 18.5% 18.2%
2019-04-11 09:00 AM Unemployment Rate 18%
2019-05-09 09:00 AM Unemployment Rate 17.7%



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).


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



Greece Labour Last Previous Highest Lowest Unit
Unemployment Rate 18.50 18.70 27.90 7.30 percent [+]
Employed Persons 3793.58 3883.07 4658.20 3438.10 Thousand [+]
Unemployed Persons 914.32 862.44 1384.90 335.60 Thousand [+]
Part Time Employment 337.20 362.50 385.20 158.68 Thousand [+]
Full Time Employment 3557.00 3497.90 4383.59 3153.50 Thousand [+]
Employment Rate 80.58 81.83 93.28 71.29 percent [+]
Long Term Unemployment Rate 13.10 13.70 19.90 3.60 percent [+]
Youth Unemployment Rate 39.10 38.50 60.30 20.00 percent [+]
Labour Costs 78.30 90.00 107.40 48.50 Index Points [+]
Job Vacancies 14466.00 14351.00 51613.00 2825.00 [+]
Minimum Wages 758.33 683.76 876.62 522.00 EUR/Month [+]
Population 10.74 10.77 11.12 8.30 Million [+]
Retirement Age Women 67.00 67.00 67.00 57.00 [+]
Retirement Age Men 67.00 67.00 67.00 57.00 [+]
Labor Force Participation Rate 52.20 52.10 53.70 51.00 percent [+]
Living Wage Family 1070.00 1080.00 1080.00 1030.00 EUR/Month [+]
Living Wage Individual 595.00 600.00 600.00 555.00 EUR/Month [+]
Wages High Skilled 1510.00 1590.00 1710.00 1510.00 EUR/Month [+]
Wages Low Skilled 717.00 868.00 913.00 717.00 EUR/Month [+]
Productivity 98.50 93.20 108.10 70.90 Index Points [+]
Employment Change 0.00 1.00 3.60 -2.80 percent [+]


Greece Unemployment Rate

In Greece, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. This page provides the latest reported value for - Greece Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Greece Unemployment Rate - actual data, historical chart and calendar of releases - was last updated on February of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
18.50 18.70 27.90 7.30 1998 - 2018 percent Monthly
SA




Country Last Previous
South Africa 27.10 Dec/18
Spain 14.45 Dec/18
Turkey 12.30 Nov/18
Brazil 11.60 Dec/18
Italy 10.30 Dec/18
Argentina 9.00 Sep/18
France 8.80 Dec/18
Euro Area 7.90 Dec/18
India 6.10 Dec/18
Saudi Arabia 6.00 Sep/18
Canada 5.80 Jan/19
Indonesia 5.34 Sep/18
Australia 5.00 Dec/18
Russia 4.80 Dec/18
South Korea 4.40 Jan/19
United Kingdom 4.00 Nov/18
United States 4.00 Jan/19
China 3.80 Dec/18
Netherlands 3.60 Dec/18
Mexico 3.40 Dec/18
Germany 3.30 Dec/18
Switzerland 2.80 Jan/19
Japan 2.40 Dec/18
Singapore 2.20 Dec/18


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