Greece Unemployment Rate

The Greek seasonally adjusted unemployment rate edged down to 18 percent in December 2018 from a downwardly revised 18.3 percent in the previous month. It remains at the lowest level since July 2011, as the number of unemployed went down by 1.9 percent to 852 thousand and the number of employed persons rose by 0.1 percent to 3.87 million. Unemployment Rate in Greece averaged 16.22 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 13.60 percent in 2020, according to our econometric models.

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Calendar	GMT		Actual	Previous	TEForecast
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	18.5%	18.7%	18.4%
2019-03-07	10:00 AM	Unemployment Rate	18%	18.3%	18.2%
2019-04-11	09:00 AM	Unemployment Rate		18%	18%
2019-05-09	09:00 AM	Unemployment Rate			17.7%
2019-06-06	09:00 AM	Unemployment Rate			17.5%

Greek Jobless Rate Falls Further to 18% in December

The Greek seasonally adjusted unemployment rate edged down to 18 percent in December 2018 from a downwardly revised 18.3 percent in the previous month. It remains at the lowest level since July 2011.

Compared with the previous month, the number of unemployed went down by 1.9 percent to 852 thousand and the number of employed persons rose by 0.1 percent to 3.87 million.

A year ago, the jobless rate was recorded at 20.7 percent. The number of unemployed persons decreased by 14 percent while employment increased by 2.8 percent.

Unemployment declined for all age groups but continued to hit more young people aged 15-24 years (39.5 percent from 43.1 percent in December 2017) and the 25-34 age group (24.2 percent from 25.7 percent). Lower rates were also observed in the 35-44 age group (16.2 percent from 19.2 percent); the 45-54 age group (14.4 percent from 16.6 percent); the 55-64 age group (13.9 percent from 17.3 percent) and the 65-74 age group (8.7 percent from 11.9 percent).

By genders, the jobless rate was lower for men (14.1 percent from 16.7 percent) than for women (23.1 percent vs 26.0 percent).

Across the country's regions, the lowest unemployment rates were recorded in Crete (8.3 percent) and Peloponnese, Western Greece & Ionian Islands (18.3 percent). In contrast, Epirus-Western Macedonia registered the highest rate (21.1 percent).

Greece's jobless rate remains the highest in the eurozone which decreased to 7.8 percent in December 2018, the lowest level since October 2008, from 7.9 percent in November.

ELSTAT | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
3/7/2019 11:35:05 AM

News

Greek Jobless Rate Edges Down to 18.5% in November
The Greek seasonally adjusted unemployment rate dropped to 18.5 percent in November 2018 from an upwardly revised 18.7 percent in the prior month. It is the lowest jobless rate since July 2011.
Published on 2019-02-07

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.
Published on 2019-01-10

Greek Jobless Rate at Over 7-Year Low of 18.6%
The Greek seasonally adjusted unemployment rate dropped to 18.6 percent in September of 2018 from 18.9 percent in the previous month. It was the lowest jobless rate since July 2011.
Published on 2018-12-06

Greek Jobless Rate at 7-Year Low of 18.9% in August
The Greek seasonally adjusted unemployment rate dropped to 18.9 percent in August of 2018 from an upwardly revised 19.1 percent in the previous month, staying at its lowest level since August 2011.
Published on 2018-11-08

Greece Labour	Last	Previous	Highest	Lowest	Unit
Unemployment Rate	18.00	18.30	27.90	7.30	percent	[+]
Employed Persons	3830.99	3793.58	4658.20	3438.10	Thousand	[+]
Unemployed Persons	853.79	914.32	1384.90	335.60	Thousand	[+]
Part Time Employment	352.90	337.20	385.20	158.68	Thousand	[+]
Full Time Employment	3480.80	3557.00	4383.59	3153.50	Thousand	[+]
Employment Rate	81.78	80.58	93.28	71.29	percent	[+]
Long Term Unemployment Rate	13.10	13.70	19.90	3.60	percent	[+]
Youth Unemployment Rate	39.50	39.10	60.30	20.00	percent	[+]
Labour Costs	93.50	78.30	107.40	48.50	Index Points	[+]
Job Vacancies	13584.00	14466.00	51613.00	2825.00		[+]
Minimum Wages	758.33	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	51.70	52.20	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 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	93.10	98.50	108.10	70.90	Index Points	[+]
Employment Change	0.00	1.00	3.60	-2.80	percent	[+]

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 March of 2019.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	18.00	18.30	27.90	7.30	1998 - 2018	percent	Monthly	SA

Export Data API

Country	Last		Previous	Range
South Africa	27.10	Dec/18	27.5	31.2 : 21.5	%
Spain	14.45	Dec/18	14.55	26.94 : 4.41	%
Turkey	13.50	Dec/18	12.3	14.8 : 7.3	%
Brazil	12.00	Jan/19	11.6	13.7 : 6.2	%
Italy	10.50	Jan/19	10.4	13.1 : 5.8	%
Argentina	9.10	Dec/18	9	20.8 : 5.9	%
France	8.80	Dec/18	9.1	10.7 : 7.2	%
Euro Area	7.80	Jan/19	7.8	12.1 : 7.3	%
India	6.10	Dec/18	3.52	8.3 : 3.41	%
Saudi Arabia	6.00	Sep/18	6	6.3 : 4.35	%
Canada	5.80	Feb/19	5.8	13.1 : 2.9	%
Indonesia	5.34	Sep/18	5.13	11.24 : 2	%
Australia	4.90	Feb/19	5	11.2 : 4	%
Russia	4.90	Feb/19	4.9	14.1 : 4.5	%
United Kingdom	3.90	Jan/19	4	12 : 3.4	%
China	3.80	Dec/18	3.82	4.3 : 3.8	%
United States	3.80	Feb/19	4	10.8 : 2.5	%
South Korea	3.70	Feb/19	4.4	7.1 : 3	%
Mexico	3.60	Jan/19	3.4	6.42 : 2.22	%
Netherlands	3.40	Feb/19	3.6	7.9 : 3.4	%
Germany	3.20	Jan/19	3.3	11.5 : 0.4	%
Switzerland	2.70	Feb/19	2.8	5.7 : 1.5	%
Japan	2.50	Jan/19	2.4	5.5 : 1	%
Singapore	2.20	Dec/18	2.1	6 : 1.4	%