The seasonally adjusted unemployment rate in Greece dropped to 16.1 percent in February 2020 from a downwardly revised 16.2 percent in the previous month. It was the lowest jobless rate since March 2011, as the number of unemployed persons fell by 13.527 thousand to 745.9 thousand. Meantime, the number of employed decreased by 28.467 thousand to 3.89 million. Considering the same month of 2019, young people in the 15-24 age group continued to be the most affected among the unemployed (35.6 percent vs 36.5 percent), despite the rate has been declining over the years. Across the country's regions, the lowest jobless rates were recorded in Aegean Islands (13.6 percent) and Crete (13.8 percent) while Epirus-Western Macedonia (21 percent) registered the highest.
Unemployment Rate in Greece averaged 16.28 percent from 1998 until 2020, reaching an all time high of 27.90 percent in July of 2013 and a record low of 7.40 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. Greece Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020.
Unemployment Rate in Greece is expected to be 18.20 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 19.70 in 12 months time. In the long-term, the Greece Unemployment Rate is projected to trend around 18.00 percent in 2021 and 16.00 percent in 2022, according to our econometric models.