Greece: Unemployment rate slips to near nine-year low in final month of 2019
The number of unemployed workers fell by 12,274 in December 2019 compared to November while the seasonally-adjusted unemployment rate edged down to 16.3% from 16.5% in the previous month, according to data released by the Hellenic Statistical Authority (ELSTAT). December’s reading was the lowest since March 2011 and below that of the same month in 2018 (December 2018: 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.
Meanwhile, youth unemployment—categorized by individuals between the ages of 15-24—came in at 34.7% in December, below December’s 2018’s 39.4%.