Greece: Unemployment rate edges up in October
December 15, 2021
The number of unemployed workers decreased by 5,994 in October, compared to September, while the seasonally-adjusted unemployment rate edged up to 13.3% from 13.0% in September. However, the print remained low by historical standards and came in well-below the 16.4% unemployment rate tallied in October 2020.
Greece’s unemployment rate had been falling steadily, since peaking at around 28% in the summer of 2013, until the Covid-19 pandemic struck. That said, the unemployment rate is expected to trend upwards in the remainder of the year, amid more downbeat tourism activity, partly due to the emergence of the Omicron Covid-19 variant and tighter travel restrictions.
Meanwhile, youth unemployment—categorized by individuals between the ages of 15–24—rose to 32.1% in October from 28.0% in September.
Author: Alexandros Petropoulos,