Greece Unemployment February 2022

Greece

Greece: Unemployment rate drops in February

April 11, 2022

February’s print suggested a reviving labor market, as the number of employed people increased by 112,391 compared with January 2022, while the seasonally-adjusted unemployment rate declined marginally from January’s 12.9% to 12.8% in February.

Although the number of unemployed workers increased by 7,428 from January to February, this was due to greater labor force participation: The number of people outside the labor force decreased by 122,526 compared with January 2022 (-3.8%).

FocusEconomics Consensus Forecast panelists expect the unemployment rate to average 13.4% in 2022, which is down 0.1 percentage points from the previous month’s projection. For 2023, the panel sees the unemployment rate averaging 12.6%.


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Greece Unemployment Chart


Greece Unemployment February 2022

Note: Month-on-month variation of unemployed people in thousands and unemployment rate in %.
Source: Hellenic Statistical Authority (ELSTAT) and FocusEconomics calculations.


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