Greece Unemployment April 2020

Greece

Greece: Unemployment rate climbs for first time in over a year in April as Covid-19 starts to bite

July 9, 2020

The number of unemployed workers rose by 52,717 in April compared to March while the seasonally-adjusted unemployment rate climbed to 15.5% from the previous month’s revised 14.5% (previously reported: 14.4%), according to data released by the Hellenic Statistical Authority (ELSTAT). April’s reading was the first increase since January 2019 but was below that of the same month last year (April 2019: 17.5%).

Greece’s unemployment rate had been falling steadily in recent years, since peaking at around 28% in the summer of 2013. However, it is bound to increase going forward as the Covid-19 crisis takes its toll.

Meanwhile, youth unemployment—categorized by individuals between the ages of 15-24—came in at 33.6% in April, above April’s 2019’s 32.7%.

FocusEconomics Consensus Forecast panelists expect the unemployment rate to average 20.8% in 2020, which is down 0.2 percentage points from the previous month’s projection. For 2021, the panel sees the unemployment rate averaging 19.1%.


Author:, Economist

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Greece Unemployment Chart


Greece Unemployment April 20 20

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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