Greece Unemployment March 2022


Greece: Unemployment rate drops in March

May 18, 2022

March’s print suggested a reviving labor market, as the number of employed people increased by 16,180 compared with February 2022, while the seasonally-adjusted unemployment rate declined from February’s 12.7% to 12.2% in March.

In addition, the number of unemployed workers decreased by 25,233 from February to March. This was partly due to lower labor force participation, as the number of people outside the labor force increased marginally by 6,359 people compared with February 2022 (+0.2%).

FocusEconomics Consensus Forecast panelists expect the unemployment rate to average 13.2% in 2022, which is down 0.2 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 March 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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