Greece: Unemployment rate dips to near eight-year low in April
July 11, 2019
The number of unemployed workers declined by 26,925 in April compared to March while the seasonally-adjusted unemployment rate fell to 17.6% from 18.2% in the previous month, according to data released by the Hellenic Statistical Authority (ELSTAT). April’s reading was the lowest since June 2011 and below that of the same month in 2018 (April 2018: 19.8%).
Greece’s unemployment rate has fallen steadily 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 30.4% in April, below March’s 2018’s 40.3%.
Author: Javier Colato, Economist