The seasonally adjusted unemployment rate in Greece fell marginally to 16.6 percent in October of 2019 from 16.8 percent in the previous month and compared with 18.5 percent in October of 2018. This is the lowest jobless rate since April 2011, as the number of unemployed decreased by 12.3 thousand to 781 thousand while employed fell by 0.71 thousand to 3.93 million. Considering the same month in 2018, young people in the 15-24 age group continued to be the most affected among the unemployed (35.6 percent vs 39.4 percent), despite the rate declined in all age groups. Across the country's regions, the lowest unemployment rates were reported in Crete (11.9 percent), Aegean Islands (14.4 percent) and Attica (15.6 percent). In contrast, Epirus-Western Macedonia (19 percent) and Macedonia-Thrace (18.5 percent) registered the highest rates.
Unemployment Rate in Greece averaged 16.28 percent from 1998 until 2019, reaching an all time high of 27.80 percent in July of 2013 and a record low of 7.30 percent in May of 2008. 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.
Unemployment Rate in Greece is expected to be 16.50 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 15.50 in 12 months time. In the long-term, the Greece Unemployment Rate is projected to trend around 14.00 percent in 2020, according to our econometric models.