Greece: Unemployment rate inches up in February
May 10, 2018
According to data recently released by the Hellenic Statistical Authority (EL.STAT), the number of unemployed persons decreased 2,045 in February compared with January. However, the seasonally-adjusted unemployment rate inched up in February to 20.8% from 20.7% in January. February’s rate was below that of the same period last year (February 2017: 22.6%).
Overall, however, Greece’s unemployment remains very high and well above the EU average. In addition, youth unemployment for individuals between the ages of 15-24 was painfully high at 45.4% in February.
Greece Unemployment Rate Forecast
FocusEconomics Consensus Forecast panelists expect the unemployment rate to average 20.1% in 2018. For 2019, the panel expects the unemployment rate to average 18.9%.