Unemployment in Greece
Greece - Unemployment
Unemployment drops in March
The number of unemployed workers decreased by 18,384 in March compared to February, while the seasonally-adjusted unemployment rate edged down to 16.3% from February’s upward revised 16.6% (previously reported: 15.9%). However, the print was above February 2020’s result of 15.7%.
Greece’s unemployment rate had been falling steadily, since peaking at around 28% in the summer of 2013, until the Covid-19 pandemic struck. That said, although the unemployment rate has started to decline towards February 2020’s nine-year low, it is expected to remain elevated going forward as the labor market feels the brunt of lockdown restrictions which lasted until mid-Q2.
Meanwhile, youth unemployment—categorized by individuals between the ages of 15–24—inched up to 37.5% in March from 37.4% in the prior month.
FocusEconomics Consensus Forecast panelists expect the unemployment rate to average 16.9% in 2021, which is unchanged from the previous month’s projection. For 2022, the panel sees the unemployment rate averaging 15.6%.
Greece - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Greece Unemployment Chart
Source: National Statistical Service.
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June 11, 2021
The number of unemployed workers decreased by 18,384 in March compared to February, while the seasonally-adjusted unemployment rate edged down to 16.3% from February’s upward revised 16.6% (previously reported: 15.9%).
June 10, 2021
Industrial output expanded 22.5% year-on-year in April (March: +5.7% yoy).
June 4, 2021
GDP contracted at a notably slower pace of 2.3% year-on-year in the first quarter, following Q4 2020’s 6.9% dive.
June 1, 2021
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) came in at 58.0 in May, well above April’s 54.4 one-year high and logging the best result in more than 20 years.
May 28, 2021
The number of unemployed workers decreased by 188,706 in February compared to January, while the seasonally-adjusted unemployment rate dropped to 15.9% from January’s 16.1%.