Greece: Unemployment rate dips in December

According to data released by the Hellenic Statistical Authority (ELSTAT), the number of unemployed workers fell by 16,774 in December compared with November while the seasonally-adjusted unemployment rate dipped to 18.0% from 18.3% in the previous month. Moreover, December’s unemployment rate was below that of the same month in 2017 (December 2017: 20.8%).

Greece’s unemployment rate has fallen notably in recent years, since peaking at around 28% in the summer of 2013. However, it remains the highest in the Eurozone by far.

Meanwhile, youth unemployment—categorized by individuals between the ages of 15-24—came in at 39.5% in December, below December’s 2017’s 43.1%.

Greece Unemployment Rate Forecast

FocusEconomics Consensus Forecast panelists expect the unemployment rate to average 18.0% this year, which is unchanged from the previous month’s projection. For 2020, the panel sees the unemployment rate averaging 16.7%.