Greece: Unemployment rate remains steady in October
January 10, 2019
According to data released by the Hellenic Statistical Authority (ELSTAT), the number of unemployed workers fell by 11,374 in October compared with September while the seasonally-adjusted unemployment rate remained unchanged at September’s 18.6%. That said, October’s unemployment rate was below that of the same month last year (October 2017: 21.0%).
Greece’s unemployment rate has fallen notably 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 38.5% in October, below October 2017’s 41.3%.
Greece Unemployment Rate Forecast
FocusEconomics Consensus Forecast panelists expect the unemployment rate to average 18.1% in 2019, which is down 0.3 percentage points from the previous month’s projection. For 2020, the panel sees the unemployment rate averaging 16.9%.
Author: Javier Colato, Economist