Greece: Unemployment rate falls to over eight-year low in June
September 5, 2019
The number of unemployed workers fell by 6,039 in June compared to May while the seasonally-adjusted unemployment rate ticked down to 17.0% from 17.1% in the previous month, according to data released by the Hellenic Statistical Authority (ELSTAT). June’s reading was the lowest since May 2011 and below that of the same month in 2018 (June 2018: 19.2%).
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 35.5% in June, below June’s 2018’s 38.5%.
Author: Javier Colato, Economist