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Greece Unemployment January 2020

Greece: Unemployment rate holds steady at 2020 outset

The number of unemployed workers fell by only 448 in January compared to December 2019 while the seasonally-adjusted unemployment rate held steady at the previous month’s revised 16.4% (previously reported: 16.5%), according to data released by the Hellenic Statistical Authority (ELSTAT). January’s reading was the lowest since March 2011 and below that of the same month in 2019 (January 2019: 18.5%).

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 and is set to climb further amid the ongoing Covid-19 crisis.

Meanwhile, youth unemployment—categorized by individuals between the ages of 15-24—came in at 32.4% in January, below January’s 2019’s 39.2%.

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