Greece Unemployment February 2019

Greece

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%.

FocusEconomics Consensus Forecast panelists expect the unemployment rate to average 17.8% this year, which is down 0.1 percentage points from the previous month’s projection. For 2020, the panel sees the unemployment rate averaging 16.5%.


Author:, Economist

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Greece Unemployment Chart


Greece Unemployment February 2019

Note: Month-on-month variation of unemployed people in thousands and unemployment rate in %.
Source: Hellenic Statistical Authority (ELSTAT).


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