Greece: Unemployment rate falls in January
April 12, 2018
According to data recently released by the Hellenic Statistical Authority (EL.STAT), the number of unemployed persons decreased 10,167 in January compared with December 2017.
Consequently, the unemployment rate slid in January to 20.6% from 20.8% in December, continuing its slow, but gradual, decline from its 2013 peak (27.4%). January’s dip was a sizeable decrease from that of the same period last year (January 2017: 23.2%). Overall, however, Greece’s unemployment remains very high and well above the EU average. In addition, youth unemployment for individuals between the ages of 15-24 remained painfully high at 42.3% in January.
Greece Unemployment Rate Forecast
FocusEconomics Consensus Forecast panelists expect the unemployment rate to average 19.9% in 2018. For 2019, the panel expects the unemployment rate to average 18.7%.
Author: Lindsey Ice, Economist