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.

Greece Unemployment Rate
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Calendar GMT Actual Previous Consensus 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



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 [+]


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 March of 2019.

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




Country Last Previous
South Africa 27.10 Dec/18
Spain 14.45 Dec/18
Turkey 13.50 Dec/18
Brazil 12.00 Jan/19
Italy 10.50 Jan/19
Argentina 9.10 Dec/18
France 8.80 Dec/18
Euro Area 7.80 Jan/19
India 6.10 Dec/18
Saudi Arabia 6.00 Sep/18
Canada 5.80 Feb/19
Indonesia 5.34 Sep/18
Australia 4.90 Feb/19
Russia 4.90 Feb/19
United Kingdom 3.90 Jan/19
China 3.80 Dec/18
United States 3.80 Feb/19
South Korea 3.70 Feb/19
Mexico 3.60 Jan/19
Netherlands 3.40 Feb/19
Germany 3.20 Jan/19
Switzerland 2.70 Feb/19
Japan 2.50 Jan/19
Singapore 2.20 Dec/18


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