Greece Unemployment October 2016


Greece: Unemployment rate falls to new low in October

January 12, 2017

The number of unemployed decreased by 8,200 in October, according to the Hellenic Statistical Authority (EL.STAT.). The result followed the 11,300 decrease in unemployed seen in September.

The unemployment rate inched down from September’s 23.1% to 23.0% in October. October’s figure marked the lowest unemployment rate since March 2012 and was below that of the same month of the previous year (October 2015: 24.4%). Despite the improvements registered over the past year, Greece’s unemployment rate is still well above the Eurozone average.

FocusEconomics Consensus Forecast panelists expect unemployment to average 22.4% in 2017. For 2018, the panel expects the unemployment rate to average 21.2%.

Author: Angela Bouzanis, Lead Economist

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Greece Unemployment Chart

Greece Unemployment October 2016

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

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