The coast of Greece

Greece Unemployment July 2021

Greece: Unemployment rate drops markedly in July

The number of unemployed workers decreased by 40,485 in July compared to June, while the seasonally-adjusted unemployment rate dropped to 14.2% in July from 15.0% in June. Moreover, the print was below July 2020’s upward revised print of 16.8%. The reading also marked the lowest unemployment rate in over a decade and was likely supported by the reviving tourism industry, which accounts for a sizeable share of the country’s employment.

Greece’s unemployment rate had been falling steadily, since peaking at around 28% in the summer of 2013, until the Covid-19 pandemic struck. Although the unemployment rate has started to decline, it is expected to rise above its current levels by year-end. Meanwhile, the possibility of tighter Covid-19 restrictions, in light of the spread of more infectious Covid-19 variants, clouds the outlook for the labor market.

Lastly, meanwhile, youth unemployment—categorized by individuals between the ages of 15–24—rose to 32.3% in July from 28.3% in June.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest