Greece Unemployment


Greece: Unemployment rate reaches lowest level in 15 months

June 5, 2014

In March, the number of unemployed fell by 1,500 over the previous month according to the Hellenic Statistical Authority (EL.STAT.). The decrease followed the previous month’s drop of 6,000 in the number of unemployed.

The unemployment rate inched down from 26.9% in February to 26.8% in March (March 2013: 27.2%), which marked the lowest rate since December 2012. Despite the decrease, the print is more than double the Eurozone’s average unemployment rate of 11.8% in the same month.

FocusEconomics Consensus Forecast panelists expect unemployment to average 27.0% in 2014, which is down 0.3 percentage points from last month’s forecast. For 2015, the panel expects the unemployment rate to average 25.7%.

Author:, Senior Economist

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Greece Unemployment Chart

Greece Unemployment March 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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