Greece: Unemployment rate ticks down in February
May 9, 2019
The number of unemployed workers declined by 5,299 in February compared to January while the seasonally-adjusted unemployment rate ticked down to 18.5% from 18.6% in the previous month, according to data released by the Hellenic Statistical Authority (ELSTAT). Moreover, February’s unemployment rate was below that of the same month in 2018 (February 2018: 20.6%).
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 38.8% in February, below February’s 2018’s 46.0%.
Author: Javier Colato, Economist