The Greek seasonally adjusted unemployment rate was at 18.6 percent in October of 2018, unchanged from the previous month. It remained the lowest jobless rate since July of 2011. Unemployment Rate in Greece averaged 16.20 percent from 1998 until 2018, reaching an all time high of 27.90 percent in July of 2013 and a record low of 7.30 percent in May of 2008.

Unemployment Rate in Greece is expected to be 17.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Greece to stand at 15.90 in 12 months time. In the long-term, the Greece Unemployment Rate is projected to trend around 15.10 percent in 2020, according to our econometric models.

Greece Unemployment Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-10-11 09:00 AM Unemployment Rate 19% 19.1% 18.7%
2018-11-08 10:00 AM Unemployment Rate 18.9% 19.1% 18.5%
2018-12-06 10:00 AM Unemployment Rate 18.6% 18.9% 18.4%
2019-01-10 10:00 AM Unemployment Rate 18.6% 18.6% 17.90%
2019-02-07 10:00 AM Unemployment Rate 18.6% 17.90%
2019-03-07 10:00 AM Unemployment Rate 17.90%
2019-04-11 09:00 AM Unemployment Rate 19.00%



Greek Jobless Rate Steady at 18.6%

The Greek seasonally adjusted unemployment rate was at 18.6 percent in October of 2018, unchanged from the previous month. It remained the lowest jobless rate since July of 2011.

Compared with the previous month, the number of unemployed dropped by 1.3 percent to 876.0 thousand and the number of employed persons fell by 0.8 percent to 3.84 million.

A year ago, the jobless rate was recorded at 21.0 percent. The number of unemployed persons declined by 12.2 percent while employment increased by 2.1 percent.

Unemployment decreased for most of the age groups but continues to hit more young people aged 15-24 years (38.5 percent from 41.3 percent in October 2017) and the 24-34 age group (23.9 percent from 26.0 percent). Lower rates were also seen in the 35-44 age group (16.6 percent from 19.2 percent); the 45-54 age group (15.1 percent from 16.9 percent); the 55-64 age group (14.0 percent from 17.3 percent) and the 65-74 age group (11.6 percent from 12.3 percent).

By genders, the jobless rate was lower for men (15.0 percent from 17.1 percent) than for women (23.1 percent from 25.8 percent).

Across the country's regions, the lowest unemployment rates were recorded in Crete (10.9 percent), Thessaly – Sterea Ellas (18.3 percent) and Aegean Islands (18.6 percent). On the other hand, Epirus-Western Macedonia registered the highest rate (22.2 percent).


ELSTAT | Stefanie Moya | stefanie.moya@tradingeconomics.com
1/10/2019 10:16:17 AM



Greece Labour Last Previous Highest Lowest Unit
Unemployment Rate 18.60 18.60 27.90 7.30 percent [+]
Employed Persons 3883.07 3932.34 4658.20 3438.10 Thousand [+]
Unemployed Persons 862.44 837.10 1384.90 335.60 Thousand [+]
Part Time Employment 337.20 362.50 385.20 158.68 Thousand [+]
Full Time Employment 3557.00 3497.90 4383.59 3153.50 Thousand [+]
Employment Rate 81.83 82.45 93.28 71.29 percent [+]
Long Term Unemployment Rate 13.70 14.50 19.90 3.60 percent [+]
Youth Unemployment Rate 38.50 36.60 60.30 20.00 percent [+]
Labour Costs 78.30 90.00 107.40 48.50 Index Points [+]
Job Vacancies 14466.00 14351.00 51613.00 2825.00 [+]
Minimum Wages 683.76 683.76 876.62 522.00 EUR/Month [+]
Population 10.74 10.77 11.12 8.30 Million [+]
Retirement Age Women 67.00 67.00 67.00 57.00 [+]
Retirement Age Men 67.00 67.00 67.00 57.00 [+]
Labor Force Participation Rate 52.20 52.10 53.70 51.00 percent [+]
Living Wage Family 1070.00 1080.00 1080.00 1030.00 EUR/Month [+]
Living Wage Individual 595.00 600.00 600.00 555.00 EUR/Month [+]
Wages 1060.45 1073.07 1462.20 939.14 EUR/Month [+]
Wages High Skilled 1510.00 1590.00 1710.00 1510.00 EUR/Month [+]
Wages Low Skilled 717.00 868.00 913.00 717.00 EUR/Month [+]
Productivity 98.50 93.20 108.10 70.90 Index Points [+]
Employment Change 0.80 0.40 3.50 -2.70 percent [+]


Greece Unemployment Rate

In Greece, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. This page provides the latest reported value for - Greece Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Greece Unemployment Rate - actual data, historical chart and calendar of releases - was last updated on January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
18.60 18.60 27.90 7.30 1998 - 2018 percent Monthly
SA




Country Last Previous
South Africa 27.50 Sep/18
Spain 14.55 Sep/18
Brazil 11.60 Nov/18
Turkey 11.60 Oct/18
Italy 10.50 Nov/18
France 9.10 Sep/18
Argentina 9.00 Sep/18
Euro Area 7.90 Nov/18
Saudi Arabia 6.00 Jun/18
Canada 5.60 Dec/18
Indonesia 5.34 Sep/18
Australia 5.10 Nov/18
Russia 4.80 Nov/18
United Kingdom 4.10 Oct/18
United States 3.90 Dec/18
China 3.82 Sep/18
South Korea 3.80 Dec/18
Netherlands 3.60 Dec/18
India 3.52 Dec/17
Germany 3.30 Nov/18
Mexico 3.30 Nov/18
Switzerland 2.70 Dec/18
Japan 2.50 Nov/18
Singapore 2.10 Sep/18


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