Greece Unemployment


Greece: Unemployment rate eases slightly in June to lowest level in more than a year

September 11, 2014

In June, the number of unemployed fell by 4,400 over the previous month, according to the Hellenic Statistical Authority (EL.STAT.). The decrease contrasted the 2,000 increase in the number of unemployed recorded in the previous month.

In addition, the unemployment rate inched down from 27.1% in May to 27.0% in June (June 2013: 27.6%), which marked the lowest rate since February 2013. The figure slightly undershot market expectations, which had the unemployment rate remaining at the previous month’s 27.1%. As a result, the current rate is more than twice the Eurozone’s average unemployment rate of 11.6% in the same month.

FocusEconomics Consensus Forecast panelists expect unemployment to average 26.8% in 2014, which is down 0.2 percentage points from last month’s forecast. For 2015, the panel expects the unemployment rate to average 25.4%.

Author:, Senior Economist

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Greece Unemployment Chart

Greece Unemployment June 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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