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
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Unemployment Rate | 25.0 | 23.6 | 21.5 | 19.3 | 17.3 |
Greece Unemployment Chart
Source: National Statistical Service.
Greece Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.91 | 0.76 % | Jan 01 |
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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Economic News
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Greece: Unemployment drops in March
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%).
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Greece: Industrial output growth hits all-time high in April
June 10, 2021
Industrial output expanded 22.5% year-on-year in April (March: +5.7% yoy).
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Greece: GDP drops at softer pace in Q1
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.
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Greece: Manufacturing PMI rises to over 20-year high in May
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.
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Greece: Unemployment rate edges down in February
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%.
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