Greece Unemployment May 2019

Greece

Greece: Unemployment rate falls to eight-year low in May

August 8, 2019

The number of unemployed workers declined by 6,183 in May compared to April while the seasonally-adjusted unemployment rate dipped to 17.2% from 17.4% in the previous month, according to data released by the Hellenic Statistical Authority (ELSTAT). May’s reading was the lowest since May 2011 and below that of the same month in 2018 (May 2018: 19.4%).

Greece’s unemployment rate has fallen steadily in recent years, since peaking at around 28% in the summer of 2013. However, it remains the highest in the Eurozone by far.

Meanwhile, youth unemployment—categorized by individuals between the ages of 15-24—came in at 33.8% in May, below March’s 2018’s 38.9%.

FocusEconomics Consensus Forecast panelists expect the unemployment rate to average 17.7% this year, which is down 0.1 percentage points from the previous month’s projection. For 2020, the panel sees the unemployment rate averaging 16.6%.


Author:, Economist

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Greece Unemployment Chart


Greece Unemployment May 2019

Note: Month-on-month variation of unemployed people in thousands and unemployment rate in %.
Source: Hellenic Statistical Authority (ELSTAT).


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