Greece Unemployment


Greece: Unemployment rate drops further in October

January 11, 2015

The number of unemployed fell by 13,500 in October, according to the Hellenic Statistical Authority (EL.STAT.). October’s reading marked a notable improvement compared to September’s mild drop of just 900 in the number of unemployed.

The unemployment rate inched down from 26.0% in September to 25.8% in October. The reading, which marked the lowest rate in over two years, was below that of the same month of the previous year (October 2013: 27.8%). Despite the improvements registered in recent months, Greece’s unemployment rate is still well above the Eurozone average, which has been stable at 11.5% since August.

FocusEconomics Consensus Forecast panelists expect unemployment to average 26.7% in 2015. For 2016, the panel expects the unemployment rate to average 25.3%.

Author:, Economist

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Greece Unemployment Chart

Greece Unemployment October 2014

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

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