Greece Unemployment


Greece: Unemployment rate inches down in May

August 7, 2014

In May, the number of unemployed rose by 2,800 over the previous month, according to the Hellenic Statistical Authority (EL.STAT.). The increase was more than double the 1,100 increase in the number of unemployed recorded in the previous month.

However, the unemployment rate inched down from 27.3% in April to 27.2% in May (May 2013: 27.8%), which marked the lowest rate in four months. As a result, the current rate is more than twice the Eurozone’s average unemployment rate of 11.6% in the same month.

FocusEconomics Consensus Forecast panelists expect unemployment to average 26.8% in 2014, which is down 0.2 percentage points from last month’s forecast. For 2015, the panel expects the unemployment rate to average 25.4%.

Author:, Senior Economist

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Greece Unemployment Chart

Greece Unemployment May 2014

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

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