The seasonally adjusted unemployment rate in Greece edged down to 16.9 percent in July 2019 from an upwardly revised 17.1 percent in the prior month and compared with 19.1 percent in July 2018. It is the lowest jobless rate since May of 2011. Unemployment Rate in Greece averaged 16.27 percent from 1998 until 2019, reaching an all time high of 27.80 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 17.00 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 14.00 percent in 2020, according to our econometric models.

Greece Unemployment Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-07-11 09:00 AM Unemployment Rate Apr 17.6% 18.2% 17.5%
2019-08-08 09:00 AM Unemployment Rate May 17.2% 17.4% 17.2%
2019-09-05 09:00 AM Unemployment Rate Jun 17% 17.1% 17.1%
2019-10-10 09:00 AM Unemployment Rate Jul 16.9% 17.1% 16.9%
2019-11-07 10:00 AM Unemployment Rate Aug 16.9% 16.7%
2019-12-05 10:00 AM Unemployment Rate Sep 16.5%



Greek Jobless Rate Falls to Over 8-Year Low in July

The seasonally adjusted unemployment rate in Greece edged down to 16.9 percent in July 2019 from an upwardly revised 17.1 percent in the prior month and compared with 19.1 percent in July 2018. It is the lowest jobless rate since May of 2011.

Compared with the previous month, the number of unemployed decreased by 11.4 thousand, or 1.4 percent, to 797 thousand while the number of employed persons went down by 10.2 thousand, or 0.3 percent, to 3.909 million. 

A year ago, the jobless rate was recorded at 19.1 percent. The number of unemployed persons declined by 109.6 thousand, or 12.1 percent, whereas employed increased by 59.6 thousand, or 1.5 percent.

Unemployment decreased in all age groups but continued to hit more young people aged 15-24 years (32.9 percent vs 37.8 percent in July 2018) and the 25-34 age group (22.8 percent vs 24.2 percent). Lower rates were mainly registered in the 35-44 age group (14.3 percent vs 17.3 percent); the 45-54 age group (14.3 percent vs 16.0 percent); the 55-64 age group (14.2 percent vs 14.9 percent) and the 65-74 age group (9.3 percent vs 12.7 percent). 

The jobless rate went down for both genders, but was lower for men (13.7 percent vs 15.1 percent) than for women (21.0 percent vs 24.0 percent).

Across the country's regions, the lowest unemployment rates were registered in Crete (9.9 percent), Aegean Islands (14.7 percent) and Attica (16.8 percent). In contrast, Epirus-Western Macedonia posted the highest rate (20.3 percent).



ELSTAT | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
10/10/2019 10:13:28 AM



Greece Labour Last Previous Highest Lowest Unit
Unemployment Rate 16.90 17.10 27.80 7.30 percent [+]
Employed Persons 3918.08 3989.27 4658.20 3438.10 Thousand [+]
Unemployed Persons 784.66 742.98 1384.90 335.60 Thousand [+]
Part Time Employment 362.00 351.90 385.20 158.68 Thousand [+]
Full Time Employment 3594.50 3462.20 4383.59 3153.50 Thousand [+]
Employment Rate 83.31 84.30 93.28 71.29 percent [+]
Long Term Unemployment Rate 12.50 13.00 19.90 3.60 percent [+]
Youth Unemployment Rate 33.00 33.00 59.60 21.00 percent [+]
Labour Costs 91.90 93.20 107.40 48.50 Index Points [+]
Job Vacancies 14343.00 12570.00 51613.00 2825.00 [+]
Minimum Wages 758.33 758.33 876.62 522.00 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 52.30 51.80 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 91.70 88.90 108.10 70.90 Index Points [+]
Employment Change 0.70 0.70 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 October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
16.90 17.10 27.80 7.30 1998 - 2019 percent Monthly
SA




Country Last Previous
South Africa 29.00 Jun/19
Spain 14.02 Jun/19
Turkey 13.90 Jul/19
Brazil 11.80 Aug/19
Argentina 10.60 Jun/19
Italy 9.50 Aug/19
France 8.50 Jun/19
Euro Area 7.40 Aug/19
India 6.00 Dec/18
Saudi Arabia 5.60 Jun/19
Canada 5.50 Sep/19
Australia 5.20 Sep/19
Indonesia 5.01 Mar/19
Russia 4.50 Sep/19
United Kingdom 3.90 Aug/19
Mexico 3.80 Sep/19
China 3.61 Jun/19
Netherlands 3.50 Sep/19
United States 3.50 Sep/19
South Korea 3.40 Sep/19
Germany 3.10 Aug/19
Japan 2.20 Aug/19
Singapore 2.20 Jun/19
Switzerland 2.10 Sep/19


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