The coast of Greece

Greece Unemployment March 2018

Greece: Unemployment rate falls to lowest point in nearly six and a half years

According to data recently released by the Hellenic Statistical Authority (EL.STAT), the number of unemployed persons decreased by 14,591 in March compared with February. Furthermore, the seasonally-adjusted unemployment rate dropped from a downwardly-revised 20.6% in February (previously reported: 20.8%) to 20.1% in March, the lowest rate since October 2011. The figure was also well below that of the same month last year (March 2017: 22.1%).

Unemployment among individuals between the ages of 15-24 also fell, but remain elevated at 43.2% in March. Despite the improvements in the labor market, unemployment in Greece remains the highest in the Eurozone.

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